The Horstmeyer Corporation commenced operations early in 2021. A number of expenditures were made during 2021 that were debited to one account called intangible asset. A recap of the $193,500 balance in this account at the end of 2021 is as follows: Date Transaction Amount February 3 State incorporation fees and legal costs related to organizing the corporation $ 7,000 March 1 Fire insurance premium for three-year period 6,000 March 15 Purchased a copyright 29,000 April 30 Research and development costs 49,000 June 15 Legal fees for filing a patent on a new product resulting from an R&D project 7,500 September 30 Legal fee for successful defense of patent developed above 21,000 October 13 Entered into a 10-year franchise agreement with franchisor 49,000 Various Advertising costs 25,000 Total $193,500 Required: Prepare the necessary Journal entry to clear the intangible asset account and to set up accounts for separate intangible assets, other types of assets, and expenses indicated by the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to reclassify various expenditures incorrectly charged to the Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts 1. Accounts not yet due = $170,000; estimated uncollectible = 10%, 2. Accounts 1-45 days past due = $23,600, estimated uncollectible = 15% 3. Accounts more than 45 days past due = $9.400; estimated uncollectible = 20%. Before recording any adjustments, Dhaliwal has a debit balance of $42,300 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/312021 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? Required 1 Required 2 Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts Required Required 2 >