Allowance method entries The following transactions were completed by 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 $2,660 cash in full payment of Arlene's account. Apr. 3. Wrote off the $12,750 balance owed by Premier GS Co., which is bankrupt. July 16. Received 25% of the $22,000 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. Nov. 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 Dec. 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. Dec. 31. 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 2. b. Post each entry that affects the following T accounts and determine the new balances: Allowance for Doubtful Accounts Apr. 3 12,750 Jan. 1 Balance 50,000 July 16 16,500 Jan. 19 Dec. 31 56,590 Nov. 23 Dec. 31 Unadjusted Balance Dec. 31 Adjusting Entry Dec. 31 Adjusted Balance Bad Debt Expense Dec. 31 Adjusting Entry 3. Determine the expected netreb e value of the accounts receivable as of December 31 (er all of the adjustments and the adjusting entry) collectible accounts on an analysis of receivables, the adjusting entry on December 31 had been based on an estimated expense of 1/2 of 1 of the sales of 4. Assuming that instead of basing the provision for $15,000,000 for the year, determine the following: tad debit expense for the year. b. Balance in the allowance account after the adjustment of December 31 c. Expected retreatable value of the accounts receivable as of December 31 (eral of the adjustments and the atting entry)