Adjusting Journal Entry Given the following cases, prepare the adjusting journal entries on December 31, 2019. 1. Accounts Receivable has a balance of P 350,000. It is estimated that 6% of this will be uncollectible. 2019 Dec. 31 Account Titles and Explanation Debit Credit Php Php To record the uncollectible account. 2. Experience shows that 8% of accounts receivable will be uncollectible. The balance of accounts receivable is P 550,000. 2019 Account Titles and Explanation Debit Credit Dec. 31 Php Php To record the uncollectible account.