e 3 P8-28A Accounting for uncollectible accounts using the allowance method (aging-of-receivables) and reporting receivables on the balance shee At September 30, 2016, the accounts of Park Terrace Medical Center (PTM the following: 539 016 Center (PTMC) include Accounts Receivable Allowance for Bad Debts (credit balance) $ 143,000 3,300 During the last quarter of 2016, PTMC completed the following selected transactio Dec. 28 Wrote off accounts receivable as uncollectible: Silver, Co., $1,200; Oscar Wells, $1,000; and Rain Company $600 Recorded bad debts expense based on the aging of accounts receivable, as follows: 31 Age of Accounts 31-60 Days 61-90 Days $ 41,000 $13,000 3% 30% 1-30 Days $ 103,000 0.3% Accounts Receivable Estimated percent uncollectible Over 90 Days $6,000 35% Requirements 1. Journalize the transactions. 2. Open the Allowance for Bad Debts T-account, and post entries affecting that account. Keep a running balance. 3. Show how Park Terrace Medical Center should report net accounts receivable on its December 31, 2016, balance sheet