Allowance method entries The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31: Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalize the receipt of $2,745 cash in full payment of Arle account. Jan. 19. Apr. 3. Wrote off the $15,730 balance owed by Premier GS Co., which is bankrupt. July 16, Received 25% of the $28,200 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible Nov.Re Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,475 cash in full payment. 23. Dec. 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $11,830 ; Fogle Co., $3,515 Lake Furniture, $ 9,030 ; Melinda Shryer, $2,555 Dec. 31. Based on an analysis of the $1,391,500 of accounts receivable, it was estimated that $60,500 wl be uncollectible. Journalize the adjusting entry. Required: 1. Record the January 1 credit balance of $57,600 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, assume the $1,391,500 balance in accounts receivable reflects the adjustments made during the year. Allowance method entries The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31: Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalize the receipt of $2,745 cash in full payment of Arle account. Jan. 19. Apr. 3. Wrote off the $15,730 balance owed by Premier GS Co., which is bankrupt. July 16, Received 25% of the $28,200 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible Nov.Re Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,475 cash in full payment. 23. Dec. 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $11,830 ; Fogle Co., $3,515 Lake Furniture, $ 9,030 ; Melinda Shryer, $2,555 Dec. 31. Based on an analysis of the $1,391,500 of accounts receivable, it was estimated that $60,500 wl be uncollectible. Journalize the adjusting entry. Required: 1. Record the January 1 credit balance of $57,600 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, assume the $1,391,500 balance in accounts receivable reflects the adjustments made during the year