Russell Company uses the allowance method of accounting for uncollectible receivables: Journalize the entries to record the following: |(1) The accounts receivable account has a balance of $400,000, and the contra asset account before adjustment has a debit balance of $300. Analysis of the receivables indicates uncollectible receivables of $9,000. (a) Record the adjusting entry at December 31, the end of the first year, to record the bad debt expense. (b) Also, determine the Net Realizable Value as of December 31. (2) On May 1, of the next year, $500 is received on the $800 owed by Austin Co. and the remainder is written off as uncollectible. (3) On November 1, of the next year, the $700 owed by Gabe Co. on account is written off as uncollectible. |(4) On December 20, of the next year, $400 of the Gabe Co. account is reinstated and payment of that amount is received