During $2018,$ credit sales were $$1,200,000$; sales discounts taken were $$22,000$; accounts receivable collected were $$995,000$; and accounts written off during the year totalled $$24,000.$ Prepare the adjusting entry required on December $31,2018,$ to estimate uncollectible receivables assuming it is based on the following aging analysis. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

December $31,2018$

Accounts Receivable Age of Accounts

Receivable Expected Percentage

Uncollectible

$ $240,000$ Not due $($under $30$ days$)0\mathrm{.}75\%$

$75,0001$ to $30$ days past due $4\%$

$20,00031$ to $60$ days past due $10\%$

$11,000$ Over $60$ days past due $60\%$

c$.$ Show how accounts receivable would appear on the December $31,2018,$ balance sheet.