Allowance method entries The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31 : of $2,660 cash in full payment of Arlene's account. April 3. Wrote off the $15,240 balance owed by Premier GS Co., which is bankrupt. $4,335 cash in full payment. December 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $11,465; Fogle Co., $3,405; Lake Furniture, $8,750; Melinda Shryer, \$2,475. the adjusting entry. 1. Record the January 1 credit balance of $55,900 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts. during the year. 2. b. Post each entry that affects the following T accounts and determine the new balances: 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). the year, determine the following: a. Bad debt expense for the year. b. Balance in the allowance account after the adjustment of December 31. c. Expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry)