A company reports the following amounts at the end of the year (before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $125,000 31,000 2,500 (credit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 11% of receivables will not be collected, and (2) using the percentage-of-credit-sales method, assuming the company estimates 4% of credit sales will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet