< Entries Related to Uncollectible Accounts The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December 31: Jan. Apr. July 19 Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $1,785 cash in full payment of Arlene's account. 3 Wrote off the $10,230 balance owed by Premier GS Co., which is bankrupt. 16 Received 30% of the $18,300 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 $2,910 cash in full payment. Dec. 31 Wrote off the following accounts as uncollectible (one entry): Cavey Co., $7,695; Fogle Co., $2,285; Lake Furniture, $5,875; Melinda Shryer, $1,660. 31 Based on an analysis of the $906,200 of accounts receivable, it was estimated that $39,400 will be uncollectible. Journalized the adjusting entry. Required: 1. Record the January 1 credit balance of $37,500 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, assume the $906,200 balance in accounts receivable reflects the adjustments made during the year. Jan. 19-reinstate Accounts Receivable-Arlene Gurley Allowance for Doubtful Accounts Jan. 19-collection Cash Accounts Receivable-Arlene Gurley Apr. 3 Allowance for Doubtful Accounts Accounts Receivable-Premier GS Co.