The following transactions were completed by Daws Company during the current fiscal year ended December 31:

Jan. 29	Received 40% of the $17,000 balance owed by Kovar Co., a bankrupt business, and wrote off the remainder as uncollectible.
Apr. 18	Reinstated the account of Spencer Clark, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7,405 cash in full payment of Clarks account.
Aug. 9	Wrote off the $6,460 balance owed by Iron Horse Co., which has no assets.
Nov. 7	Reinstated the account of Vinyl Co., which had been written off in the preceding year as uncollectible. Journalized the receipt of $3,940 cash in full payment of the account.
Dec. 31	Wrote off the following accounts as uncollectible (one entry): Beth Connelly Inc., $7,095; DeVine Co., $5,540; Moser Distributors, $9,495; Oceanic Optics, $1,035.
Dec. 31	Based on an analysis of the $1,782,000 of accounts receivable, it was estimated that $35,640 will be uncollectible. Journalized the adjusting entry.

Required 1. Record the January 1 credit balance of $25,615 in a Taccount for Allowance for Doubtful Accounts. 2. A. Journalize the transactions. For the December 31 adjusting entry, assume the $1,782,000 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for a listing of the account titles the company uses. B. Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bacd Debt Expense. 3. Determine the expected net realizable value of the accounts receivable 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 receivables, the adjusting entry on December 31 had been based on an estimated expense of of 1% of the net sales of $17,760,000 for the year, determine the following: A. Bad debt expense for the year. B. Balance in the allowance account after the adjustment of December 31 C. Expected net realizable value of the accounts receivable as of December 31. T Accounts re 1. Record the January 1 credit balance of $25,615 in a Taccount for Allowance for Doubtful Accounts ne 2. B. Post each entry that affects the following selected Taccounts and determine the new balances: Allowance for Doubtful Accounts and Bad Debt Expense es Allowance for Doubtful Accounts Nov. 7 Jan.1 Balance Nov. 7 of Jan. 29 Jan. 1 Dec. 31 Adj. Balance Bad Debt Expense fo Journal 2. A. Journalize the transactions. For the December 31 adjusting entry, assume the $1,782,000 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for a listing of the account titles the company uses. PAGE 10 JOURNAL DATE POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 10 12 13 Final Questions 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). 4. Assuming that stead o basing the provision for u colectible accounts on an analysis of the year, determine the fowowing ee a es e adjusting e try on ecember 31 had been based on an estimated eo se o of % of ener a es of S or A. Bad debt expense for the year. S B. Balance in the allowance account after the adjustment of December 31. $ C. Expected net realizable value of the accounts receivable as of December 31