for Doubtful Accounts account. The accounts receivable T-account consisted of $370,000 in debit balances and 55,100 in credit balances. The company aged its accounts as follows: Current 1303,000 0-60 days past due 42.000 61-180 days past due 17.000 Over 100 days past due 8.000 5370,000 in the past, the company has experienced credit losses as follows: 1% of current balances, 5 of balances 0-60 days past due, 15% of balances 61-180 days past due, and 40% of balances over six months past due. The company bases its allowance for doubtful accounts on an aging analysis of accounts receivable. Required a. Prepare the adjusting entry to record the allowance for doubtful accounts for the year. b. Show how Accounts Receivable including the credit balances and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet. Date Dec 11 General journal Description Debit Credit to record once for crosses Current +