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Save Homework: Chapter 8 homework Score: 0 of 10 pts + 3 6 1/2 complete) E8-20 (similar to) HW Score: 56.36%, 56.36 of 100 pt E Question Help At December 31, 2018, the Accounts Receivable balance of Alpha Company is $195,000. The Allowance for Bad Debts account has a $25,780 debit balance. Alpha Company prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account Age of Accounts 31-60 61-90 Over 90 Total Days Days Days Days Balance Accounts Receivable $ 60,000 $ 45,000 $ 50,000 $ 40.000 Estimated percent uncollectible 520 1-30 cevable Estimated total uncollectible Enter any number in the edit fields and then click Check Answer 3 remaining 2 parts Clear All Check Answer Chapter 8 homework 3 of 6 (2 complete) HW Score: 56. Accounts Receivable balance of Alpha Company is $195,000. The Allowance for Bad Debts account has a $25,780 the following aging schedule for its accounts receivable: the aging schedule.) e the vear-end.adiusting entry for bad debts on the basis of the aging schedule Show the Taccount for the Allowanc Data Table tal Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days $ 60,000 0.8% 31-60 Days $ 45,000 5.0 % 61-90 Days $ 50,000 7.0% Over 90 Days $ 40,000 52.0 % ec ible Print Done] e edit fields and then click Check Answer. Clear All Check Tapel o TIUITIEWUIK 3 of 6 (2 complete) HW Scor unts Receivable balance of Alpha Company is $195,000. The Allowance for Bad Debts account has a owing aging schedule for its accounts receivable: ing schedule.) ear-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the A A Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018 2. Show how Alpha Company will report its net accounts receivable on its December 31, 2018, balance sheet. Print Done fields and then click Check Answer. Clear All