Receivables using excel for aging accounts receivable the lake lucerne company uses the allowance method of estimating bad debts expense. an aging schedule is prepared in order to calculate the balance in the allowance account. the percentage uncollectible is calculated as follows: 1-30 days 1% 31-60 days 2% 61-90 days 5% 91-365 days 50% after 365 days, the account is written off. use the blue shaded areas on the enter-answers tab for inputs. always use cell references and formulas where appropriate to receive full credit. copy/pasting values will not earn full points. requirements possible points 1 calculate the number of days each receivable is outstanding. 12 2 complete the schedule of accounts receivable. 45 3 journalize the adjusting entry for bad debts expense. 4 *for all requirements, enter all amounts as positive values. do not use a minus sign or parentheses for any values.