Entries Related to Uncollectible Accounts The following transactions were completed by The wild Trout Gallery during the current flscal year ended December 31 : Jan. 19 Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the recelpt of $1,690 cash in full payment of Arlene's account. Apr. 3 Wirote off the $9,680 balance owed by Premier GS Co., which is bankrupt. July 16 Recelved 40% of the $17,400 balance owed by Hayden Co, a bankrupt business, and wrote off the remainder as uncollectible. Nov. 23 Relnstated the account of Harry Carr, which had been written off two years earller as uncollectible. Recorded the recelpt of $2,755 cash In full payment. Dec. 31 Wrote off the following accounts as uncollectlble (one entry): Cavey Co., \$7,285; Fogle Co., \$2,165; Lake Furniture, \$5,560; Mellnda Shryer, $1,570. 31 Based on an analysis of the $857,900 of accounts recelvable, It was estimated that $37,300 will be uncollectible. Joumalized the adjusting entry. Required: 1. Record the January 1 credit balance of $35,500 In a T account presented below in requirement 2b for Allowance for Doubtful Accounts. 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 recelvable as of December 31 (after all of the adjustments and the adjusting entry). a. Bad debt expense for the year. b. Balance in the allowance account after the adjustment of December 31. c. Expected net reallzable value of the accounts recelvable as of December 31 (after all of the adjustments and the adjusting entry)