P5-66B. (Learning Objective 5: Apply GAAP for uncollectible receivables) The September 30 2019, records of West Point Communications include these accounts: Accounts Receivable. Allowance for Doubtful Accounts $249,000 (8,000) During the year, West Point Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the following aging schedule: Age of Accounts Accounts Receivable $235,000 Estimated percent uncollectible 1-30 Days $132,000 0.5% 31-60Days 61-90 Days $52,000 2% $15,000 15% Over 90 Days 536,000 3.5% During the last quarter of 2019, the company completed the following selected transactions: Nov 30 Wrote off as uncollectible the $1,200 account receivable from Looper Carpets and the $800 account receivable from Williams Antiques. Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account expense at year-end, based on the aging of receivables Dec 31 Requirements 1. Record the transactions for the last quarter of 2019 in the journal. Explanations are not required. 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from requirement 1 to that account. 3. Show how West Point Communications will report its accounts receivable in a comparative balance sheet for 2018 and 2019. (Use the three-line reporting format.) At December 31, 2018, the company's Accounts Receivable balance was $212,000 and the Allowance for Uncollectible Accounts stood at $4,800