More Info Jan 17 Sold inventory to Riley Brunswick, $500, on account. Ignore cost of goods sold. Jun 29 Wrote off the Riley Brunswick account as uncollectible after repeated efforts to collect from him. Aug 6 Received $175 from Riley Brunswick, along with a letter stating his intention to pay within 30 days. Reinstated his account in full. Received the balance due from Riley Brunswick. Oct 31 Made a compound entry to write off the following accounts as uncollectible: Brody Conrad, $100; Tom Marquet, $700; and Sylvia Walsh, $900. Dec 31 Based on an aging of accounts receivable, estimated uncollectible accounts as $4,000. Sep 4 Print Done Requirement 1. Record the transactions in the journal and post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts that have been opened for you. These accounts have beginning balances of $3,200 (cr.) and $0, respectively. Remember to update account balances but ignore posting references. Begin by recording the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan 17: Sold inventory to Riley Brunswick, $500 on account. Ignore cost of goods sold. Journal Entry Date Accounts Debit Credit Jan 17 Jun 29: Wrote off the Riley Brunswick account as uncollectible after repeated efforts to collect from him. Journal Entry Accounts Date Debit Credit Jun 29 Aug 6: Received $175 from Riley Brunswick, along with a letter stating his intention to pay within 30 days. Reinstated his account in full. Begin by preparing the entry to reinstate the account. (Do not record the receipt of cash, this will be recorded in the next entry.) Journal Entry Accounts Date Debit Credit Aug 6 Now prepare the entry for the receipt of $175 from Riley Brunswick Journal Entry Date Accounts Debit Credit Aug 6 Sep 4: Received the balance due from Riley Brunswick. Journal Entry Date Accounts Debit Credit Sep Oct 31: Made a compound entry to write off the following accounts as uncollectible: Brody Conrad, $100; Tom Marquet, $700; and Sylvia Walsh, $900. Journal Entry Date Accounts Debit Credit Oct 31 Dec 31: Based on the aging of accounts receivable, estimated uncollectible accounts as $4,000. Journal Entry Accounts Date Debit Credit Dec 31 Now post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts that have been opened for you. These accounts have beginning balances of $3,200 (cr.) and 50 respectively. Remember to update account balances but ignore posting references. Bad debt expense Allowance for uncollectible accounts Beg Bal 3.200 Beg Bal 0 Requirement 2. The December 31 balance of Accounts receivable is $122,000. Show how Accounts receivable would be reported on the balance sheet at that date. (Complete all answer boxes.) Salem Auto Parts, Inc. Balance Sheet (partial) December 31 Less