Uncollectible Accounts-Allowance Method Pyle Nurseries uses the allowance method to record the following transactions, adjusting entries, and closing entries during the year ended December 31, 20--: Feb. Received 60% of the $4,000 balance owed by Wiley's Waterworks, a bankrupt business, and wrote off the remainder as uncollectible. Reinstated the account of Amanda Akin, which had been written off in the May 28 preceding year, and received $2,100 cash in full settlement. Aug. Wrote off the $5,700 balance owed by JoJo Xu as uncollectible. 16 Oct. Reinstated the account of Tomi Kennedy which had been written off in the preceding year, and received $3,100 cash in full settlement. Wrote off the following accounts as uncollectible, in compound entry form: Dec. Jacobs & Wilson, $10,900; Specialty Landscapes, $15,360; Kiana Hoyer, 28 $13,170. Based on an aging analysis of the $965,000 of accounts receivable, it was 31 estimated that $50,800 will be uncollectible. Made the adjusting entry. 31 Made the entry to close the appropriate account to Income Summary. Selected accounts and beginning balances on January 1, 20--, are provided. Required: 1. Enter the transactions and the adjusting and closing entries in a general journal (page 6). Enter the posting references when posting to the selected accounts in requirement 2. Page: 6 DOC. NO. POST. DATE ACCOUNT TITLE DEBIT CREDIT REF. 20-- CashV 2,400 Feb. 9 Accounts Receivable/Wiley's Waterworks - V 2 2,400 Collection on account 4 Allowance for Doubtful Accounts V 122.1 1,600 5. Accounts Receivable/Wiley's Waterworks - v v 6 6. 1,600 7. Wrote off uncollectible account 7. 8. 8. May 28 Accounts Receivable/Amanda Akin V 2,100 9. 10 Allowance for Doubtful Accounts V 122.1 2,100 V 10 11 Reinstated account receivable 11 12 12 13 May 28 Cash V 2,100 V 13 14 Accounts Receivable/Amanda Akin V 2,100 V 14 15 Collection on account 15 16 16 17 Aug. 16 Allowance for Doubtful Accounts V 122.1 5,700 17 18 Accounts Receivable/JoJo Xu v 5,700V 18 19 Wrote off uncollectible account 19