Presented below is an aging schedule for Ivanhoe Company at December 31, 2024. At December 31,2024 , the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,800. Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the p part.) Journalize the 2025 transactions: (List all debit entries before credit entries, Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. March 1, a $540 customer balance originating in 2024 is judged uncollectible. 2. May 1, a check for $540 is received from the customer whose account was written off as uncollectible on March 1