I'm having difficulty with this problem...my online teacher is pretty hands off and I need a walk through..

PR 9-1A Entries related to uncollectible accounts OBJ.4 The following transactions were completed by The Irvine Company during the current fiscal year ended December 31 Feb. 8. Received 40% of the $18,000 balance owed by Decoy Co., a bankrupt business, and wrote off the remainder as uncollectible May 27. Reinstated the account of Seth Nelsen, which had been written off in the preced- ing year as uncollectible. Journalized the receipt of $7,350 cash in full payment of Seth's account. Aug. 13. Wrote off the $6,400 balance owed by Kat Tracks Co, which has no assets. Oct. 31. Reinstated the account of Crawford Co., which had been written off in the pre- ceding year as uncollectible. Journalized the receipt of $3,880 cash in full pay- ment of the account. Dec. 31. Wrote off the following accounts as uncollectible (compound entry): Newbauer Co., $7,190; Bonneville Co., $5,500; Crow Distributors, $9,400; Fiber Optics, $1,110. 31. Based on an analysis of the $1,785,000 of accounts receivable, it was estimated that $35,700 will be uncollectible. Journalized the adjusting entry Instructions 1. Record the January 1 credit balance of $26,000 in a T account for Allowance for 2. Journalize the transactions. Post each entry that affects the following selected T ac- Allowance for Doubtful Accounts Doubtful Accounts. counts and determine the new balances: Bad Debt Expense 3. Determine the expected net realizable value of the accounts receivable as of December 31 4 Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables, the adjusting entry on December 31 had been based on an estimated expense of of 1% of the sales of $18,200,000 for the year, determine the following: a. Bad debt expense b. Balance in the allowance account after the adjustment of December 31 c. Expected net realizable value of the accounts receivable as of December 31 for the year