stibles) The tibles) The Septer May 31, 20X7. P5-76B. (Learning Objective 4: Using the aging approach for uno 30, 20X7, records of Image Communications include these account Accounts receivable........ Allowance for doubtful accounts....... 290,000 (9,700) At year-end, the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the aging schedule. During the last quarter of 20X7. the company completed the following selected transactions: MOD Dec. 28 Wrote off as uncollectible the 1,300 account receivable from Blue Carpets and the 700 account receivable from Show.N Tell Antiques. The Dec. 31 Adjusted the Allowance for Doubtful Accounts and recorded doubtful-account expense at year-end, based on the aging of o r receivables, which follows. b Total Balance Age of Accounts 31-60 Days 61-90 Days 40,000 18,000 1.0% 10.0% 1-30 Days 160,000 0.5% 238,000 Estimated uncollectible Over 90 Days 20,000 50.0% Requirements 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Allowance for Doubtful Accounts and post to that account 2 Show how Image Communications will report its accounts receivable on its Balance at December 31, 20X7. P5-77B. (Learning Objective 4: Accounting for notes receivable and accrued interest revenue Organic Meals completed the following selected transactions