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, 2018 2. Show how CVM Manufacture will report its net accounts receivable on its December 31, 2018, balance sheet. Age of Accounts 1-30 Days 31-60 Days 61-90 Days 70,000 $ 65,000 $ 30,000 0.8 % 3.0 % 9.0 % Accounts Receivable Estimated percent uncollectible Over 90 Days $ 15,000 53.0 % colled llectible Print Done C0-20 Slal tu) At December 31, 2018, the Accounts Receivable balance of CVM Manufacture is $180,000. The Allowance for Bad Debts account has a $11,660 debit balance CVM Manufacture prepares the following aging schedule for its accounts receivable Click the icon to view the aging schedule.) Read the requirements Requirement 1. Joumalize 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, 2018 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 Balance Accounts Receivable $ 70,000 $ 65,000 $ 15,000 Estimated percent uncollectible Estimated total uncollectible Enter any number in the edit fields and then click Check Answer Check Answer Clear All 2 parts 3 remaining