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. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $2,645 cash in full payment of Arlene's account. Ape 3 Wrote off the $15, 160 balance owed by Premier GS Co., which is bankrupt July 16 Nov. 23 Dec. 31, Dec. 31. Received 25% of the $27,200 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible Reinstated the account of Harry Car, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,310 cash in full payment Wrote off the following accounts as uncollectible (one entry): Cavey Co., $11,400; Fogle Co., $3,385; Lake Furniture, $8,700, Melinda Shryer, $2,460. Based on an analysis of the $1,340,900 of accounts receivable, it was estimated that $58,300 will be uncollectible. Journalized the adjusting entry.