2 During the year, Mountaintop Company had net credit sales of $800,000. Past experience shows that 1.5 percent of the firm's net credit sales will be uncollectible. Determine the adjusting entry needed to recognize the estimated expense for these uncollectible accounts. 2 points 01:58:17 Multiple Choice O O O debit Uncollectible Accounts Expense $12,000 and credit Accounts Receivable $12,000 debit Uncollectible Accounts Expense $120,000 and credit Allowance for Doubtful Accounts $120,000 debit Uncollectible Accounts Expense $12,000 and credit Allowance for Doubtful Accounts $12,000 debit Allowance for Doubtful Accounts $12,000 and credit Accounts Receivable $12,000 *** 100%