This tion 10 NDecember 31,21, before any yeendusnents he Accourts Reetie balancef Apha Compeny ,S.0o The AlowaneUnclecit As has 5,00 eda Aa p h ng g he onu labe ICa he (ww fue Read the rereents Requrement 1. Baed on heing of Acu Receivate ted tae lowae coude egse w Firt, aid alownce for oolect eurt and e ing try ourt oundheret Afewance for Uneete Aem Credt be neede 1-30 31-40 1-00 Over o Aatig ery eno The e Decener A t nte A oude thue Pentt t n M man 2. ae tey oret ty the aging schat PepaTaccou ewance The umtee Fet make the aniy by the agrg hedue e f hen cred Eute ep ay Jual Ery nsic Dete Acceunts Debi Cred ENT Dec 31 Requirement 2. Make the entry required by the aging schedule. Prepare a Taccount for the alowance First, make the entry required by the aging schedule. (Record debits frst, then credits, Exclude explanations trom any joumal entries) Journal Entry Date Accounts Debit Credit Dec 31 Now, prepare a T-account for the alowance Alowance for Uncollectitie Accounts Requirement 3. Show how Apha wil repon Accounts Recevatie on its December 31 balance sheet First show the singie ine presentation Balance Sheet (Partial: Current assets Now show the detail presentalion Balance Sheet (Partial Less he d Data table - X Age of Accounts is fro 31-60 61-90 Over 90 Total Balance 1-30 Days Days Days Days $390,000 $160,000 $120,000 $80,000 $30,000 Estimated uncollectible 0.6 % 2.0 % 5.0 % 40.0 % Print Done