In-class assignment #12b Required: Prepare a spreadsheet with separate worhsheets for problems 12a and 12b. Be sure to format your numbers and carefully label your answers and account names. You have been requested to construct an aging schedule and a desired ending balance in the allowance for doubtful accounts. You are also required to make any required journal entries. The current balance in the allowance for doubtful accounts is $45,000. You have also just received a payment of $6,500 from a customer whose account had been written off last month. XYZ Company Accounts Receivable As of 12/31/2016 Desired allowance Chance of Collection Status Ammount Due amount Current 250,000 97% 31-60 days 100,000 90% 61-90 days 75,000 70% 91-120 days 45,000 50% 121 days + 25,000 0% 495,000