Almance method entries The following transactions were completed by Wild Trout Gallery during the current facal year ended December 311 Jan. 19. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible Journalized the receipt of $1.725 cash in full payment of Arlene's account. Apt. 3. Wrate off the $7,000 balance owned by Premier so, which is bankrupt. July 16. Neceived 75% of the $17,700 balanced by Hayden Coa bankrupt business, and wrote off the remainder as uncollectible tov. 22. Rainutated the account of Harry Cart which had been written of two years earlier as uncollectible. Recorded the receipt of 2.810 cash in full payment. Dec. 31. Wrote of the following accounts as uncollectible (compound entry): Givery Co. $7.435 : Fogle Co. $2.210 : Lake Furniture. $5,675 : Melinda Sheyet 1,60 Dec. 1. Based on an analysis of the $874,000 of accounts receivable. It was estimated that $30.000 will be uncollectible, Journalised the adjusting entry Requiredi 1. Pecord the Sanuary 1 credit balance of 534.200 in aT account presented belove in requirement 26 for Aleance for Doubtful Accounts 2. a. umalize the transactions as amount or does not require an entry, Wavet blank. Motel for the December 31 justing entry, assume the $874,000 balance in accounts receivable reflects the adjunts made during the ye lan. 19 counts Receivable Arlene Gurley Allowance for Doubtful Accounts 1.725 1.725 1.735 Accounts Receivable Arlene Gurley 1,715 530 Allowance for Doubtful Accounts Accounts Receivable Premier CSC 9.000 1.15 Allowance for the Accounts 11. O Work July 16 Cash 6,195 11,505 Allowance for Doubtful Accounts Accounts Receivable-Hayden Co. 17,700 2,810 Nov. 23 Accounts Receivable-Harry Carr Allowance for Doubtful Accounts 2,810 Nov. 23 Cash 2.8107 Accounts Receivable-Harry Carr v 2.810 16,925 7435 Dec. 31 Allowance for Doubtful Accounts Accounts Receivable-Cavey Co. Accounts Receivable-Fogle Co. Accounts Receivable-Lake Furniture Accounts Receivable-Melinda Shryer 2,210 5,627 160B Dec 31 Bad Debt Expense Allowance for Doubtful Accounts 30.000 x 30.000 X 2. b. Post each entry that affects the following accounts and determine the new balances Allowance for Doubtful Accounts Apr. 3 9,880 Jan, 1 Balance 36,200 July 16 11,505 Jan. 19 1,725 V Dec. 31 16,925 Nov. 23 2,810 Dec. 31 Unadjusted Balance Dec. 31 Adjusting Entry Dec. 31 Adjusted Balance Bad Debt Expense 1. Det the expected to allevase of the counts receivable as of December 31 (teral of the adjustments and the adjusting entry) 4. As that ind of being the provision for collectible accounts on an analysis of the ting entry on December had been based on an estimated expense of of 14 of the $5.400.000 for the determine the following for the Banco the counter the ano December deti ww the accounts receivable of cumber cater that and they
