Allowance method entries

The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December $31$:

Date Transaction

January $19.$ Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $$1,710$ cash in full payment of Arlene$$s account.

April $3.$ Wrote off the $$9,800$ balance owed by Premier GS Co$.,$ which is bankrupt.

July $16.$ Received $40\%$ of the $$17,600$ balance owed by Hayden Co$.,$ a bankrupt business, and wrote off the remainder as uncollectible.

November $23.$ Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $$2,785$ cash in full payment.

December $31.$ Wrote off the following accounts as uncollectible $($compound entry$)$: Cavey Co$.,$ $$7,370$; Fogle Co$.,$ $$2,190$; Lake Furniture, $$5,625$; Melinda Shryer, $$1,590.$

December $31.$ Based on an analysis of the $$867,100$ of accounts receivable, it was estimated that $$37,700$ will be uncollectible. Journalized the adjusting entry.

Required:

$1.$ Record the January $1$ credit balance of $$35,900$ in a T account presented below in requirement $2$b for Allowance for Doubtful Accounts.

Question Content Area

$2.$ a$.$ Journalize the transactions. If an amount box does not require an entry, leave it blank. Note: For the December $31$ adjusting entry, assume the $$867,100$ balance in accounts receivable reflects the adjustments made during the year.

DateAccountDebitCredit