The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31 Date Transaction January 19 Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible Journalized the receipt of $2,660 cash in full payment of Arlene's account April 3 Wrote off the $12,750 balance owed by Premier GS Co , which is bankrupt July 16 Received 25 of the $22,000 balance owed by Hayden Co , a bankrupt business, and wrote off the remainder as uncollectible November 23 Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible Recorded the receipt of $4,000 cash in full payment December 31 Wrote off the following accounts as uncollectible (compound entry) Cavey Co , $3,300 Fogle Co , $8,100 Lake Furniture, $11,400 Melinda Shryer, $1,200 December 31 Based on an analysis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible Journalized the adjusting entry Required 1 Record the January 1 credit balance of $50,000 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts Question Content Area 2 a Journalize the transactions If an amount box does not require an entry, leave it blank Note For the December 31 adjusting entry, assume the $2,350,000 balance in accounts receivable reflects the adjustments made during the year

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The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31: Date Transaction January 19. Reinstated the account of

The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31:

Date	Transaction
January 19.	Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $2,660 cash in full payment of Arlene's account.
April 3.	Wrote off the $12,750 balance owed by Premier GS Co., which is bankrupt.
July 16.	Received 25% of the $22,000 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible.
November 23.	Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,000 cash in full payment.
December 31.	Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $3,300; Fogle Co., $8,100; Lake Furniture, $11,400; Melinda Shryer, $1,200.
December 31.	Based on an analysis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible. Journalized the adjusting entry.

Required:

1. Record the January 1 credit balance of $50,000 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts.

Question Content Area

2. a. Journalize the transactions. If an amount box does not require an entry, leave it blank. Note: For the December 31 adjusting entry, assume the $2,350,000 balance in accounts receivable reflects the adjustments made during the year.