1 4. In the journal provided, prepare the entries for the following transactions. (Omit explanations.) Dec. Sold merchandise on account to Katurah Wells for $600. 12 Received payment of $400 from Katurah Wells. 31 Made adjusting entry for Uncollectible Accounts Expense, using the percentage of net sales method. Net sales for the year totaled $14,000, uncollectible accounts are estimated at 2 percent, and Allowance for Uncollectible Accounts has a $50 credit balance prior to adjustment. Feb. 5 Wrote off Katurah Wells's balance because she filed for bankruptcy. General Journal Description Page Credit Date Debit Post. Ref