Check my work modeninis Shows what is correct or incorrect for the work you have completed so far, it does ng Chou Company uses the aging approach to estimate bad debt expense. The ending balance of each account receivable the basis of three time periods as follows: (1) not yet due, $280,000; (2) up to 120 days past due, $55,000; and (3) more th past due, $23,000. Experience has shown that for each age group, the average loss rate on the amount of the receivable due to uncollectibility is (1) 2.5 percent, (2) 11 percent, and (3) 31 percent, respectively. At December 31, the end of the curry Allowance for Doubtful Accounts balance is $400 (credit) before the end-of-period adjusting entry is made. Required: 1. Prepare the appropriate bad debt expense adjusting entry for the current year. 2. Show how the various accounts related to accounts receivable should be shown on the December 31, current year, balar Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Show how the various accounts related to accounts receivable should be shown on the December 31, current year, balance Sheet. (Amounts to be deducted should be indicated by a minus sign.) CHOU COMPANY Partial Balance Sheet As of December 31 ( Required MacBook Air