World Class Work Shoes had the following balances at December 31, 2024, before the year-end adjustments: (Click the icon to view the balances.) The aging of accounts receivable yields the following data: (Click the icon to view the accounts receivable aging schedule.) Allowance for Bad Debts Accounts Receivable 79,000 1,477 Requirements 1. Journalize World Class' entry to record bad debts expense for 2024 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Print Done Requirement 1. Journalize World Class' entry to record bad debts expense for 2024 using the aging-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts Debit Credit Dec. 31 Bad Debts Expense 1,343 Allowance for Bad Debts 1,343 Data Table Recorded bad debts expense for the period. Requirement 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. 0-60 Days Age of Accounts Receivable Over 60 Days Total Receivables $ 3,000 $ 79,000 Accounts Receivable $ 76,000 Allowance for Bad Debts Estimated percent uncollectible x 3% x 18% Beginning Balance v Adjustment Ending Balance Print Done