Inland Equipment uses the allowance method to account for uncollectible accounts. On December 31,2010, Allowance for Uncollectible Accounts has a $600 credit balance. Journalize the year-end adjusting entry for uncollectible accounts assuming the following independent scenarios:

1. Inland Equipment estimates uncollectible accounts as lA of 1% of net credit sales. Net credit sales for the year equal $550,000.

2. Based on an aging of Accounts Receivable, Inland Equipment estimates that uncollectible accounts will equal $2,575.