P-F:8-30A Accounting for uncollectible accounts using the allowance method (aging-of-receivables) and reporting receivables on the balance sheet At September 30, 2024, the accounts of Green Terrace Medical Center (GTMC) include the following: Alcounts Receivable Allowance for Bad Debts (credit balance) $ 145,000 3,500 During the last quarter of 2024, GTMC completed the following selected transactions: . Sales on account, $450,000. Ignore Cost of Goods Sold. Collections on account, $427,100. Wrote off accounts receivable as uncollectible: Regan Co., $1,400; Owen Reis, $800; and Patterson, Inc., $700. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts 1-30 31-60 Days Over 90 Days Days 61-90 Days $ 14,000 30% $ 39,000 Accounts Receivable Estimated percent uncollectible $ 104,000 0.3% $ 8,000 35% 3% Requirements 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. 2. Show how Green Terrace Medical Center should report net accounts receivable on its December 31, 2024, balance sheet. allowance method Learning Obi