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Save Homework: Chapter 8 part B homework Score: 0 of 1 pt 3 of 9 (1 complete) E8-20 (similar to) HW Score: 3.43%, 0.31 of 9 pts Question Help Al December 31, 2018, the Accounts Receivable balance of Solar Energy Manufacturing is $165,000. The Allowance for Bad Debts account has a $8.925 debit balance. Solar Energy Manufacturing 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 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 Days Days Days Days Balance Accounts Receivable $ 85,000 $45,000 $20,000 $ 15,000 60 51.0 Estimated percent uncollectible Estimated total uncollectible Enter any number in the edit fields and then click Check Answer. 3 parts 5 remaining Clear Al Check Answer 0 Data Table Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 85,000 0.5% 31-60 Days $ 45,000 4.0 % 61-90 Days $ 20,000 6.0 % Over 90 Days $ 15,000 51.0 % Print Done 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, 2018 2. Show how Solar Energy Manufacturing will report its net accounts receivable on its December 31, 2018, balance sheet. Print Done