sjc.cengag /ilm/takeAssignment/takeAssignmentMain.do?takeAssignmen Entries Related to Uncollectible Accounts The following transactions were completed by The Spencer Gallery during the current fiscal year ended December 31: Mar. 15. Reinstated the account of Brad Atwell, which had been written off in the preceding year as uncollectible. Jou $1,645 cash in full payment of Brad's account. Wrote off the $9,430 balance owed by Glory Rigging Co, which is bankrupt. Received 4S% of the $16,900 balance owed by Coastal Co., a bankrupt business, and wrote off the remainder as uncollectible. Reinstated the account of Lorie Kidd, which had been written off two years earlier as uncollectible. Recorded the receipt of $2,680 cash in full payment. Wrote off the following accounts as uncollectible (compound entry): Kimbro Co., $7,090; McHale Co, $2,105; Summit Furniture, $5,410; Wes Riggs, $1,530. Based on an analysis of the $832,600 of accounts receivable, it was estimated that $36,200 will be uncollectible. Journalized the adjusting entry rnalized the recelpt of May 20. Aug. 13. Dec. 31 Required: 1. Record the January I credit balance of $34,500 in a T account (below) for Allowance for Doubtful 4,500 in a T account (below) for Allowance for Doubtful Accounts 2. a Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Note: For the December 31 adjusti balance in accounts receivable refiects the adjustments made during the year Hide 1,645 Mar. 1 1,645 1,045