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West River, Inc, uses the allowance method of recording uncollectible accounts expense. The following information was obtained from West River's records for the current year January 1 $65,184.26 3,481.62 December 31 Accounts Receivable Allowance for Doubtful Accounts Net Sales on Account 72,184.95 4,048.78 847,386.56 A general journal and cash receipts journal are provided in the Working Papers Transactions: Feb. 2. Aphone call to Alex Yarber, president of Yarber Supply, confirmed that the company is intending to file bankruptcy. Alex stated that no money would likely be available to pay Yarber Supply's creditors. The Yarber account of $6,215.48 is over 180 days past due. M166. Last year, you wrote off the $2,084.65 balance of Innovation Central. The account was over 180 days past due and collection seemed doubtful. Today, you received a $2 stating that the company wished to reestablish a credit account with your company. M178 and R555 Mar. 24. check from Innovation Central along with a letter eceived a reply to a collection request letter sent to Dennis Raborne. Dennis refuses to pay the remaining $62.00 of his bill,stating that the original bill was larger than the agreed-upon price. Although your records clearly i account are pointless. M192. June 12. R ndicate the $62.00 was an appropriate charge, your manager believes that further efforts to collect this wed $123.54 from an Oct. 17. The U.S. Postal Service was unable to deliver a collection letter to Nancy Givens. Nancy o invoice dated January 16. M210. Today you received a $1,243.10 check from Yarber Supply.In the enclosed letter, Alex siated that the bankrupt court ordered the company to pay 20 cents for every dollar owed to its creditors. Thus, the $1,243.10 is the onl amount that Yarber Supply would ever be able to pay of its original account balance of $6,215.48. M222 and R621 Nov. 3. Instructions: 1. Journalize the selected transactions above that were completed during the current year. Use page 1 of a general journal a page 1 of a cash receipts journal. Source documents are abbreviated as follows: memorandum, M; receipt, R 2. Journalize the adjusting entry for uncollectible accounts expense on December 31 of the current year. West River estimat that the amount of uncollectible accounts expense is equal to 1 % of its net sales of $915,084.62. 3. Compute the accounts receivable turnover and days'sales in accounts receivable

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