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At September 30, 2024, the accounts of Mountain Terrace Medical Center (MTMC) include the following Accounts Receivable $ 141,000 Allowance for Bad Debts (credit balance) 3,000 During the last quarter of 2024 MTMC completed the following selected transactions (Click the icon to view the transactions) Read the requirements Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journaize the transactions (omit explanations and post to the two accounts Begin by journalizing the transactions (Record debits first, then credits. Exclude explanations from joumal entries) Sales on account, 5500,000 Ignore Cost of Goods Sold Date Accounts and explanation 2024 Dec 31 Debit Credit Requirements 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2024balance sheet. 3. Print Done - e fo More info X low able d D ppen Sales on account, $500,000 Ignore Cost of Goods Sold. Collections on account, $391,200 Wrote off accounts receivable as uncollectible: Red Co., $1,100, Oliver Jones, $900, and Paradise, Inc., $500 Recorded bad debts expense based on the aging of accounts receivable, as follows: post ing til $50 Age of Accounts Accounts Receivable 1-30 Days 31.60 Days 61-90 Days Over 90 Days $ 101,000 $ 41,000 $ 17,000 $ 88,300 0.2% 2% 20% 25% Estimated percent uncollectible w

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