Instructions Outlaw Bike Co. has determined that the proper balance for the Allowance for Doubtful Accounts at December 31 is $77,164. Assume that the allowance for doubtful accounts for Outlaw Bike Co. had a debit balance of $7,395 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31. Refer to the Chart of Accounts for exact wording of account titles. Instructions The following transactions were completed by Irvine Company during the current fiscal year ended December 31: Feb. 8 May 27 Aug, 13 Oct 31 Received 40% of the $18,000 balance owed by Decoy Co, a bankrupt business, and wrote off the remainder as uncollectible. Reinstated the account of Seth Nelsen, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7350 cash in full payment of Seth's account Wrote of the $6,400 balance owed by Kat Tracks Co., which has no assets. Reinstated the account of Crawford Co., which had been written off in the preceding year as uncollectible. Journalized the receipt of $3,880 cash in full payment of the account Wrote off the following accounts as uncollectible (compound entry): Newbauer Co., $7.190; Bonneville Co. $5,500; Crow Distributors, 59,400; Fiber Optics. $1.110 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 Dec 31 Dec 31 1. Record the January 1 credit balance of $26.000 in a T-account for Allowance for Doubtful Accounts 2. A. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account bites . Post each entry that affects the following selected accounts and determine the new balances: Allowance for Doubtful Accounts and Bad Debt Expense 3. Determine the expected sta te value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) Check My Work 10 more Check My Work uses remaining