- The September 30, 2017, records of First Data Communications (FDC) include these accounts: Accounts Receivable.......... Allowance for Doubtful Accounts ............ $243,000 (8,200) During the year, FDC estimates doubtful-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the following aging schedule. Age of Accounts Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days $231,000 $134,000 $45,000 $16,000 $36,000 Estimated percent uncollectible 0.2% 2% 15% 35% 231, 000 9.680 900 400 During the last quarter of 2017, the company completed the following selected transactions: Nov 30 Wrote off as uncollectible the $1,600 account receivable from Black Carpets and the $600 account receivable from Rare Antiques. Dec 31 Adjusted the Allowance for Doubtful Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. * DB CR carpet | Account reader Bore Bloock Required: 1 II. Record the transactions for the last quarter of 2017 in the journal. Explanations are not required. Prepare a T-account for Allowance for Doubtful Accounts with the appropriate heginning balance. Post the entries from requirement to that account. Show how FDC will report its accounts receivable in a comparative balance sheet for 2016 and 2017, the company's Accounts Receivable balance was $215,000, and the Allowance for Doubtful Accounts stood at $4,500. BDB I CR Account ! Black carpet 1,600 Antiquel Rare 6.00 4,500 215,000