Question: Data table Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance

Data table Requirements 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. 2. Show how Lexington Financial Software will report its net accounts receivable on its December 31, 2024, balance sheet. At December 31,2024 , the Accounts Receivable balance of Lexington Financial Software is $175,000. The Allowance for Bad Debts account has a $18,780 debit balance. Lexington Financial Software 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 Decembe 31, 2024. Begin by determining the target balance of Allowance for Bad Debts by using the age of each account

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