Allowance method entries The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31: January 19. April 3. July 16. November 23. December 31. December 31. Reinstated the account of Arlene Gurley, which had been written off the preceding year as uncollectible. Journalized the receipt ef $2,660 cash in full payment of Arlene's account. Wrote off the $12,750 balance owed by Premier GS Co., which is bankrupt. Received 25% of the $22,000 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,000 cash in full payment. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $3,300; Fogle Co., $8,100; Lake Furniture, $11,400; Melinda Shryer, $1,200. Based on an analysis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible. Journalized the adjusting entry.

1. Record the lanuary 1 credit balance of $50,000 in a T account presented below in requirement 20 for Aliowance for Doubthul Accounts. 2. a. Youmglize the transactions, It an amount box does not require an entry, leave in Blank. Note: For the December 31 adjusting entry, assume the $2,350,000 balance in accounts receivable reflects the adjustments made during the year. 2. b. Post each entry that affects the following T accounts and determine the new balances: $15,800,000 for bre veas, determine the following a. Aad enbe expense tor the vers. b. Belunce in the allowance account after the adjustment of December 31 c. Expecied net reairable value of the accounts receivable as of December 31 (after at of the odjustments and the adfuating entry). 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 if $2,660 cash in full payment of Arlene's account. April 3. Wrote off the $12,750 balance owed by Premier GS Co., which is bankrupt. November 23. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,000 cash in full payment. December 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $3,300; Fogle Co., $8,100; Lake Furniture, $11,400; Melinda Shryer, $1,200. December 31. Based on an ansis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible. Journalized the adjusting entry