9.10)

Entries related to uncollectible accounts Chart of Accounts IAccount s Journal Final Que Instructions The tollowing transactions were completed by The Irvine Company during the current fiscal year ended December 31: Feb. 8 Received 40% of the $18,000 balance owed by Decoy Co., a bankrupt business, and May 27 Reinstated the account of Seth Nelsen, which had been written off in the preceding year Aug. 13 Wrote off the $6,400 balance owed by Kat Tracks Co., which has no assets wrote off the remainder as uncollectible. as uncollectible. Journalized the receipt of $7,350 cash in full payment of Seth's account. Reinstated the account of Crawford Co., which had been written off in the preceding year as uncollectible. Journalized the receipt of $3,880 cash in full payment of the account. Wrote off the following accounts as uncollectible (compound entry): Newbauer Co., $7,190; Bonneville Co., $5,500; Crow Distributors, $9,400; Fiber Optics, $1,110. Based on an analysis of the $1,785,000 of accounts receivable, it was estimated that 35.700 will be uncollectible. Journalized the adjusting entry Oct. 31 Dec. 31 Dec. 31