S9-8 Applying the allowance method (aging-of-receivables) to account for uncollectibles Learning Objective 3 World Class Work Shoes had the following balances at December 31, 2016, before the year-end adjustments: Accounts Receivable 78,000 Allowance for Bad Debts 1.000 The aging of accounts receivable yields the following data: Age of Accounts Receivable 0-60 Days $73,000 Over 60 Days $5,000 Total Receivables 178,000 Requirements 1. Journalize World Class's entry to record bad debts expense for 2016 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts.