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

Jan. $29$ Received $45\%$ of the $$18,700$ balance owed by Jankovich Co$.,$ a bankrupt business, and wrote off the remainder as uncollectible.

Apr. $18$ Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Journalized the receipt of $$7,270$ cash in full payment of Karm$$s account.

Aug. $9$ Wrote off the $$6,360$ balance owed by Golden Stallion Co$.,$ which has no assets.

Nov. $7$ Reinstated the account of Wiley Co$.,$ which had been written off in the preceding year as uncollectible. Journalized the receipt of $$3,975$ cash in full payment of the account.

Dec. $31$ Wrote off the following accounts as uncollectible $($one entry$)$: Claire Moon Inc., $$7,265$; Jet Set Co$.,$ $$5,595$; Randall Distributors, $$9,305$; Harmonic Audio, $$1,150.$

$31$ Based on an analysis of the $$1,759,500$ of accounts receivable, it was estimated that $$35,190$ will be uncollectible. Journalized the adjusting entry.

Required:

$1.$ Record the January $1$ credit balance of $$25,685$ in a T account for Allowance for Doubtful Accounts.$*$

$2.$

a$.$ Journalize the transactions. For the December $31$ adjusting entry, assume the $$1,759,500$ balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

b$.$ Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bad 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 $$ of $1\%$ of the sales of $$17,710,000$ 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 $31.$

$*$The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank.