2 10 points 02:07:55 eBook Print References Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Debit $72,000 Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts View transaction list 10,000 Required: a. Demron estimates that 3% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2020, to estimate uncollectible receivables. Journal entry worksheet 1 Credit Note: Enter debits before credits. $ 1,140 498,000 Record the estimate for uncollectible accounts.

Selected unadjusted account balances at December 3t. 2023, are shown below for Demron Servicing Required: a. Demron estimates that 36 of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31 2020 , to estimate uncollectible recelvables. b. During 2024, credit sales were $644,000 (cost of sales $422,240 ); sales discounts of $14,000 were taken when accounts recelvable of $513,400 were collected, and accounts written off during the year totalled $11,600. Prepare the entries for these transactions. Record the adjusting entry required on December 34,2024 , to estimote uncollectible receivables, assuming it is based on 3% of net redit sales. d. Show how accounts recelvable would appear on the December 31, 2024, balance sheet