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why is the first one $480 and not $4,800? (80,000 x 0.06 = 4,800)

EF8-21 (similar to) Question Help O At December 31, 2024, the Accounts Receivable balance of Questor Application Inc is $225,000. The Allowance for Bad Debts account has a $22,780 debit balance. Questor Application Inc prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements. Requirement 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. 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 $ $ $ 225,000 80,000 0.6 % $ 60,000 3.0 % $ 55,000 10.0 % 30,000 55.0 % Estimated percent uncollectible $ 480 $ 1,800 $ 5,500 $ 16,500 $ 24,280 Estimated total uncollectible Journalize the year-end adjusting journal entry table.) asis of the aging schedule. (Record debits first, then credits. Select the explanation on the last line of the You answered: 4800 Get answer feedback Date Acco Debit Credit Dec. 31