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On December 31, 2018, the Accounts receivable balance of Alterations Express is $198,000. The Allowance for uncoliectible accounts has a $4,600 credi balance: Alterations Express prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements. Requirement 1. Joumalize the year-end adjusting entry for uncollectible accounts on the basis of the aging scheclule. Calculate the resulting ending balance of the Alowance account based on the account aging. Show the T-account for the Allowance on Docember 31 , 2018 . Begin by recording the year-end adjusting entry for uncollectble accounts in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) \begin{tabular}{lcccc} \hline & \multicolumn{4}{c}{ Age of Accounts } \\ \hline & 1-30 Days & 31-60 Days & 6190 Days & Over 90 Days \\ \hline Accounts receivable............... & $90,000 & $55,000 & $35,000 & $18,000 \\ Estimated percentage uncollectible .... & 0.2% & 3.0% & 5.0% & 45% \\ \hline \end{tabular} Requirements 1. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the resulting ending balance of the Allowance account based on the account aging. Show the T-account for the Allowance on December 31, 2018. 2. Assume that instead of a $4,600 credit balance, the Allowance account has a $1,200 debit balance before adjustment. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the resulting ending balance of the Allowance account based on the account aging. Show the T-account for the Allowance on December 31, 2018

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