the sises of 16,670,090 for the rek tetemine the following 4. Aas taid cupense for the reak 6. 6dance in the allow ande acconst ater the sajuement of becenter 31 ntries Related to Uncollectible Accounts he following transactions were completed by The Wild Trout Gallery during the urrent fiscal year ended December 31 : 2. I9 Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $2,135 cash in full payment of Arlene's account. 3 Wrote off the $12,230 balance owed by Premier GS Co., which is bankrupt. 15 Received 35% of the $21,900 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. . 23 Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $3,480 cash in full payment. c.. 31 Wrote off the following accounts as uncollectible (one entry): Cavey Co., \$9,200; Fogle Co., $2,735; Lake Furniture, \$7,025; Melinda Shryer, $1,985. 31 Based on an analysis of the $1,081,000 of accounts receivable, it was estimated that $47,000 will be uncollectible. Journalized the adjusting entry. required: . Record the January 1 credit balance of $44,800 in a T account presented below in equirement 2b for Allowance for Doubtful Accounts. 2. a. Journalize the transactions. If an amount box does not require an entry, leave blank, Note: For the December 31 adjusting entry, assume the $1,081,000 2. b. Post each entry that affects the following T accounts and determine the new balances: 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 recelvables, the adjusting entry on December 31 had been based on an estimated expense of 1/2 of 1% of the sales of $6,670,000 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 (after all of the adjustments and the adjusting entry). 4