Please prepare journal entries related to the Allowance Method of the Accounting for Accounts Receivable for Kodiak Co$.$ for their second year of business. You must prepare the required journal entries during year $2,$ post the T$-$account for the Allowance for Doubtful Accounts, and complete the Aging of Accounts Receivable Schedule in order to journalize the adjusting journal entry at $12/31/2.$

Transactions for Year $2$:

$3/1$ Write$-$off uncollectible A$/$R from Blue $$5,000$

$7/1$ Write$-$off uncollectible A$/$R from Red $$3,000$

$9/1$ Write$-$off uncollectible A$/$R from Green $$2,500$

$12/1$ Collect $$1,250$ from Green $($previously written$-$off$)$

$12/31$ Prepare adjusting journal entry to provide for next year$$s write$-$offs.$($you must complete the aging schedule before you can make this journal entry$)$

Extra $5$ Points

Using the same completed Aging of Accounts Receivable Schedule, please provide the adjusting journal entry at $12/31/2$ assuming the Allowance for Doubtful Accounts has a credit balance of $$375$ at the end of year $2.$Aging of Accounts Recievable Schedule $12/31/2$