The following transactions were completed by Irvine Company during the current fiscal year ended December 31 Feb 8 Received 45% of the $18,700 balance owed by Decoy Co, a bankrupt business, and wrote of the remainder as uncollectible May 27 Reinstated the account of Seth Nielsen, which had been written off in the preceding year as uncollectible Journalized the receipt of $7.270 cash in tull payment of Seth's account Aug 13 Wrote off the $5,360 balance owed by Kat Tracks Co which has no assets Oct 31 Reinstated the account of Crawford 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 Wrote off the following accounts as uncollectible (compound entry) Newbauer Co. $7265, Bonneville Co $5,595, Crow Distributors $9,305, Fiber Optics, S1150 Based on an analysis of the 51 769,500 of accounts receivable, it was estimated that $35,190 will be uncollectible, Journalized the adjusting entry Dec 31 Dec 31 1. Record the January 1 credit balance of $25,685 in a T-account for Allowance for Doubtful Accounts 2. A Journalize the transactions Refer to the Chart of Accounts for exact wording of account billes B. Posteach entry that affects the following selected accounts and determine the new balances Allowance for Deubernu Accounts and Bad Debt Expense 3. Determine the expected and enable yutue of the accounts.exable as of December 31 (after or the chustments and the acusong entry) 4. Assuming that instead of busing the provision for uncollectible accounts on an analysis of receivables, the acusting entry on December 31 had been based on an estimated expense of % of 1% of the net sales of $17.710,000 for the year, determine the following A Bad debt expense for the year Print Item been based on an estimated expense for the net sales 317710000 Tor 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 reakzable value of the accounts receivable as of December 31 T-Accounts 1 Record the January 1 credit balance of $25,685 in a T-account for Allowance for Doubtful Accounts 2. B. Post each entry that affects the following selected T-accounts and determine the new balances Allowance for Doubtful Accounts an Bad Debt Expense k Allowance for Doubtful Accounts Jan 1 Balance > Dec 31 Adj Balance Bad Debt Expense T-Accounts a 1. Record the January 1 credit balance of $25,685 in a Taccount for Allowance for Doubtful Accounts 2. 8. Post each entry that affects the following selected accounts and determine the new balances Allowance for Doubtful Accounts and Bad Debt Expense Allowance for Doubtful Accounts Jan 1 Balance Dec 31 Adj. Balance Bad Debt Expense Printem 2A formalize the transactions Refer to the Chant of Accounts for exact wording of account intes JOURNAL ACCOUNTING EQUATION DAT DESCRIPTION ROSE DO CHEME 10 1 14 Printem 11 1 11 Final Questions 3. Determine the expected on all of the account as of December 31 (after all of the adjustments and the adjusting entry) 3. Determine the expected to the correct the way * Ang habent er aan de water te accounts on an analyse susting entry on December 3 had been donese expect the tales of $170.000 for the new A Batorow the weather of December 31 Expected to the account of December The following transactions were completed by Irvine Company during the current fiscal year ended December 31 Feb 8 Received 45% of the $18,700 balance owed by Decoy Co, a bankrupt business, and wrote of the remainder as uncollectible May 27 Reinstated the account of Seth Nielsen, which had been written off in the preceding year as uncollectible Journalized the receipt of $7.270 cash in tull payment of Seth's account Aug 13 Wrote off the $5,360 balance owed by Kat Tracks Co which has no assets Oct 31 Reinstated the account of Crawford 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 Wrote off the following accounts as uncollectible (compound entry) Newbauer Co. $7265, Bonneville Co $5,595, Crow Distributors $9,305, Fiber Optics, S1150 Based on an analysis of the 51 769,500 of accounts receivable, it was estimated that $35,190 will be uncollectible, Journalized the adjusting entry Dec 31 Dec 31 1. Record the January 1 credit balance of $25,685 in a T-account for Allowance for Doubtful Accounts 2. A Journalize the transactions Refer to the Chart of Accounts for exact wording of account billes B. Posteach entry that affects the following selected accounts and determine the new balances Allowance for Deubernu Accounts and Bad Debt Expense 3. Determine the expected and enable yutue of the accounts.exable as of December 31 (after or the chustments and the acusong entry) 4. Assuming that instead of busing the provision for uncollectible accounts on an analysis of receivables, the acusting entry on December 31 had been based on an estimated expense of % of 1% of the net sales of $17.710,000 for the year, determine the following A Bad debt expense for the year Print Item been based on an estimated expense for the net sales 317710000 Tor 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 reakzable value of the accounts receivable as of December 31 T-Accounts 1 Record the January 1 credit balance of $25,685 in a T-account for Allowance for Doubtful Accounts 2. B. Post each entry that affects the following selected T-accounts and determine the new balances Allowance for Doubtful Accounts an Bad Debt Expense k Allowance for Doubtful Accounts Jan 1 Balance > Dec 31 Adj Balance Bad Debt Expense T-Accounts a 1. Record the January 1 credit balance of $25,685 in a Taccount for Allowance for Doubtful Accounts 2. 8. Post each entry that affects the following selected accounts and determine the new balances Allowance for Doubtful Accounts and Bad Debt Expense Allowance for Doubtful Accounts Jan 1 Balance Dec 31 Adj. Balance Bad Debt Expense Printem 2A formalize the transactions Refer to the Chant of Accounts for exact wording of account intes JOURNAL ACCOUNTING EQUATION DAT DESCRIPTION ROSE DO CHEME 10 1 14 Printem 11 1 11 Final Questions 3. Determine the expected on all of the account as of December 31 (after all of the adjustments and the adjusting entry) 3. Determine the expected to the correct the way * Ang habent er aan de water te accounts on an analyse susting entry on December 3 had been donese expect the tales of $170.000 for the new A Batorow the weather of December 31 Expected to the account of December