On January 1 of this year, Reek’s Wholesale Meats had a credit balance of $ 4,234 in Allowance for Doubtful Accounts. During the year, the company completed the following selected transactions:
Feb. 8 Wrote off as uncollectible a $ 462 account of Sager Market, which had gone out of business, leaving no assets.
May 3 Wrote off the account of Mary’s Catering as uncollectible, $ 220.80.
17 Collected 5 percent of the $ 1,777 owed by Link Company, a bankrupt customer. Wrote off the remainder as worthless.
Aug. 2 Received $ 228.40 unexpectedly from Dayton Company, whose account had been written off two years earlier in the amount of $ 228.40. Reinstated the account and recorded the collection of $ 228.40.
Sept. 11 Received $ 173 from Mary’s Catering as partial payment of the account written off on May 3. She wrote a letter saying that she expects to pay the balance soon. Accordingly, reinstated the account for the amount of the original obligation, $ 220.80.
Dec. 30 Journalized a compound entry to write off the following accounts as uncollectible: C. D. French, $ 326.32; Southworth Inn, $ 282.52; Hill’s Drive-In, $ 566.30.
31 Recorded the adjusting entry for estimated bad debts expense at ½ percent of net sales of $ 584,290.
31 Closed the Bad Debts Expense account.

Required
1. Record the opening balance in the ledger account for Allowance for Doubtful Accounts (account no. 114).
2. Record the entries in a general journal, pages 73 and 74.
3. Post the entries to the ledger accounts for Allowance for Doubtful Accounts and Bad Debts Expense (account no. 642).