STUDENT NAME: The following information pertains to Get It Right Company BEFORE ANY YEAR-END ADJUSTMENTS: Accounts receivable, 12/31/21 Allowance for bad debts, 12/31/21 Instructions: $ 625,000 10,000 1. Prepare the 2021 journal entry to record bad debt expense, using the aging of receivables method: Total Balance $ 625,000 Estimated Uncollectible 1-30 Days $ 325,000 0.5% 31-60 Days $ 200,000 61-90 Days Over 90 Days $ 80,000 $ 20,000 5.0% 6.0% 60.0% 2. Calculate the net realizable value of Accounts Recievable at 12/31/21: Journal Entries Date Account Name Debit Credit