The December 31, 19X4, balance sheet of Ogden Industrial Products reports the following:

At the end of each quarter, Ogden estimates doubtful-account expense to be \(1 \frac{1}{2}\) percent of credit sales. At the end of the year, the company ages its accounts receivable and adjusts the balance in Allowance for Doubtful Accounts to correspond to the aging schedule. During 19X5 Ogden completes the following selected transactions:
Jan. 16 Wrote off as uncollectible the \(\$ 603\) account receivable from Licks, Inc., and the \(\$ 1,919\) account receivable from Johnny's Leather Company.
Mar. 31 Recorded doubtful-account expense based on credit sales of \(\$ 100,000\).
Apr. 15 Received \(\$ 300\) from Johnny's Leather Company after prolonged negotiations with Johnny's Leather Company's attorney. Ogden has no hope of collecting the remainder.
May 13 Wrote off as uncollectible the \(\$ 2,980\) account receivable from \(M\). E. Cate.
June 30 Recorded doubtful-account expense based on credit sales of \(\$ 114,000\).
Aug. 9 Made a compound entry to write off the following uncollectible accounts: Clifford, Inc., \$235; Matz Co., \$188; and Lew Norris, \(\$ 706\).
Sep. 30 Recorded doubtful-account expense based on credit sales of \(\$ 130,000\).
Oct. 18 Wrote off as uncollectible the \(\$ 767\) account receivable from Bliss Co. and the \(\$ 430\) account receivable from Micro Data.
Dec. 31 Recorded doubtful-account expense based on the following summary of the aging of accounts receivable.

Dec. 31 Made the closing entry for Doubtful-Account Expense for the entire year.
\section*{Required}
1. Record the transactions in the general journal.
2. Open the Allowance for Doubtful Accounts, and post entries affecting that account. Keep a running balance.
3. Most companies report two-year comparative financial statements. If Ogden's Accounts Receivable balance is \(\$ 129,400\) at December \(31,19 X 5\), show how the company will report its accounts receivable on a comparative balance sheet for 19X5 and 19X4.

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Accounts Receivable...... Allowance for Doubtful Accounts (credit balance)................. $143,000 3,200