Entries Related to Uncollectible Accounts

The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December $31$:

Jan. $19$ Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $$1,695$ cash in full payment of Arlene$$s account.

Apr. $3$ Wrote off the $$9,710$ balance owed by Premier GS Co$.,$ which is bankrupt.

July $16$ Received $25\%$ of the $$17,400$ 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 $$2,765$ cash in full payment.

Dec. $31$ Wrote off the following accounts as uncollectible $($one entry$)$: Cavey Co$.,$ $$7,305$; Fogle Co$.,$ $$2,170$; Lake Furniture, $$5,575$; Melinda Shryer, $$1,575.$

$31$ Based on an analysis of the $$860,200$ of accounts receivable, it was estimated that $$37,400$ will be uncollectible. Journalized the adjusting entry.b$.$ Post each entry that affects the following $T$ accounts and determine the new balances:

Allowance for Doubtful Accounts

Bad Debt Expense

Dec. $31$ Adjusting Entry

Determine the expected net realizable value of the accounts receivable as of December $31($after all of the

adjustments and the adjusting entry$).$