2. b. Post each entry that affects the following T accounts and determine the new balances: Allowance method entries The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31: January 19. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $1,540 cash in full payment of Arlene's account. April 3. Wrote off the $8,820 balance owed by Premier GS Co., which is bankrupt. July 16. Received 35% of the $15,800 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. November 23. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $2,510 cash in full payment. December 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $6,635; Fogle Co., $1,970; Lake Furniture, $5,065; Melinda Shryer, $1,430. December 31. Based on an ansis of the $779,700 of accounts receivable, it was estimated that $33,900 will be uncollectible. Journalized the adjusting entry. Required: 1. Record the January 1 credit balance of $32,300 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts. 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). x of 1% of the sales of $4,810,000 for the year, determine the following: a. Bad debt expense for the year. $ b. Balance in the allowance account after the adjustment of December 31 . $ c. Expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry)