Entries Related to Uncollectible Accounts The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December 31:1 Jan 19 Renstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Joumalized the receipt of $2,630 cash in full payment of Arlene's account. Apr 3 Wrote off the $15,070 balance owed by Premier GS Co., which is bankrupt July 16 Received 45% of the $27,000 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 $4,285 cash in full payment Dec. 31 Wrote off the following accounts as uncollectible (one entry): Cavey Co., $11,335, Fogle Co., $3,365; Lake Furniture, $8,655; Melinda Shry, 12,445 31 Based on an analysis of the $1,334,000 of accounts receivable, it was estimated that $58,000 will be uncollectible. Journalized the dysting entry Required: 1 1. Record the January 1 crede balance of $55,200 in a T account presented below in requirement 25 for Allowance for Doubtful Accounts 2. a. loomshee the transactions. If an amount box does not requee an entry, leave it blank Nite: For the December 31 adjusting entry, assume the $1.334,000 balance in accounts recevable reflects the adjustments made during the year Jan. 19-tate Allemance for Doubtful Accounts Accounts Receivable Arlene Gurley Jan 19 collection Bad Debt Expense Check My Work Allowance for Doubtful Accounts Previous Next