Show transcribed image text Module 3 Homework × mybusinesscourse.com latform usinessc.oursc Menu Credit Losses Based on Accounts Receivable At December 31, Schuler Company had a balance of $377800 in its Accounts Receivable account and a credit balance of $4.200 in the Allowance for Doubtful Accounts account. The accounts recevable T-account consisted of $383,000 in credit balances. The company aged its accounts as follows: ble T-account consisted of $383,000 in debit balances and $5,200 in Current 306,000 46,000 1-180 days past due 20,000 Over 180 days past due 11,000 5383,000 0-60 days past due in the past, the company has experienced credit losses as follows:1% of current balances. sa of balances 060 days past due, isk of balances 61-180 days past due, and 40% of balances over six months past due. The company bases its allowance for doubtful accounts on an aging analysis of accounts receivable. Required a. Pfepare the adjusting entry to record the allowance for doubtful accounts for the year b. shew how Accounts Recelvable (including the credit balances) and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet a. General Journal Date Description Debit Credit Dec 31 Bad Debts Expense Type here to search