Entries Related to Uncollectible Accounts The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December 31: Jan. 19. Apr. 3. 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. Wrote off the $15,160 balance owed by Premier GS Co., which is bankrupt. July 16. Nov. 23. Dec. 31. Dec. 31. Required: 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 Carr, 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.