2. b. Post each entry that affects the following T accounts and determine the new balances: 1. Record the January 1 credit balance of $37,800 in a T account presented below in requirement 20 for Allowance for Doubtful Accounts. try, leave a blank. Note: For the December 31 adjusting entry. 3. Determine the expected net realizable value of the accounts recelvable as of December 31 (after all of the adjustments and the adjusting entry). x 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables, the adjusting entry on December a1 had been based on an estimated expense of 2 of 1% of the sales of $5,640,000 for the year, determine the following: a. Bad debt experise for the yeac. x b. Balance in the allowance account after the adjustment of December 31 . x C. Expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). Entries Related to Uncollectible Accounts The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December 31 : Jan. 19. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $1,800 cash in full payment of Ariene's account. Apt. 3. Wrote off the $10,310 balance owed by Premier GS Co, which is bankrupt: July 16. Received 25% of the $18,500 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. Nov. 23. Reinstated the account of Harry Cart, which had been written off two years earlier as uncollectible. Recorded the receipt of $2,935 cash in full payment: Dec. 31. Wrote off the following accounts as uncollectible (one entry): Cavey C0, $7,760; Fogle Co , $2,305; Lake Furniture, $5,920; Melinda Shryer, $1,675. Dec. 31. Based on an analysis of the $913,100 of accounts receivable, it was estimated that $39,700 will be uncollectible, joumalized the adjusting entry