Requirements 1 and 2

. ots 31, - 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, 2024. 2. Show how Solar Energy Manufacturing will report its net accounts receivable on its December 31, 2024, balance sheet. $ Da 90 Print Done Data table Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 90,000 $ 40,000 $ 50,000 $ 20,000 0.9% 2.0% 9.0% 55.0% Print Done Requirement 1. Joumalize 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, 2024 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account Age of Accounts 1-30 31-60 61-90 Over 90 Total Days Days Days Days Balance Accounts Receivable $ 90,000 $ 40,000 $ 50,000 S 20,000 0.9 Estimated percent uncollectible 20% 9.0 55.0% Estimated total uncollectible