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 account. Apr. 3. Wrote off the $13,780 balance owed by Premier GS Co., which is bankrupt. July 16. Received 25% of the $24,700 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 $3,920 Dec. 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $10,365; Fogle Co., $3,080; Lake Furniture, s 7. Dec. 31. Based on an analysis of the $1,219,000 of accounts receivable, it was estimated that $53,000 will be uncollectible. Journalized the Required: 1. Record the January 1 credit balance of $50,500 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts. 2. a. Journalize the transactions. If an amount box does not require an entry, leave it blank. Note: For the December 31 adjusting entry, $1.219.000 balance in accounts receivable reflects the adjustments made during the year.