ntries Related to Uncollectible Accounts he following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December a1: Jan. 19 Reinstated the account of Arlene Gurley, which had been written olf in the preceding year as uncollectible. Journalized the receipt of 51,695 cash in full payment of Arlene's account. Apro 3 Wrote off the $9,710 balance owed by Premier GSCo, which is bankrupt. July 16 Recetved 35% of the $17,400 badance owed by Hayden Co, a bankrupt business, and wrote off the remainder as uncollectible. Nov. 23 Peinsiated the account of Harry Carr, which had been written eff two years earlier as uncollectible. Aecorded the receipt of $2, 765 cashi in full poyment. Dec. Ot Wrote off the folloning accounts as uncobectible (one entry): Covey Co. 57,305; Fogle Co., 52, 170; Lake Fiumiture, 55,575; Melanda 5heryer, $1,575. 31 Based on an analysis of the $360,200 of accounts receivable, it was estamated that $37,400 will be uncoliectible foumalued the edjusting entry. Deeguiredi 1. Record the January 1 credic balance of 595,600 in a T account presented below in requirerment 26 for Allswance for Dewbthal Mrowents. 2. a. Journalize the transactions. If an amount bok does not require an entry, leave it blank. Mote: tor the Decernber J1 adjusting entry, assume the sabo,200 balance un receivabie reflects the adjustments madn dunno the year. 2. b. Post each entry that affects the following T accounts and determine the new balances: 3. Determine the expected net realrable value of the sccounts recenabie as of December 31 (after all of the adjustments and the adjusting entry). 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of fecrivables, the adjusting entry an December 31 had been bosed an an estimated expense of h of 14 of the sales of 55,310,000 for the year, determine the following B. Bad debt nyense for the year b. Dalance in the allonance account after the adjustment of December 31 . 5 c. Evpected net realizable value of the accounts recelvatle as of December 31 falter alt of the adjustments and the adjusting entry)