Alternate problem A The following selected accounts are for Keystone, Inc., a name brand shoe wholesale store, as of 2009 December 31. Prior to closing the accounts and making allowance for uncollectible accounts entries, the $ 5,000 account of Morgan Company is to be written off (this was a credit sale of 2009 February 12). Accounts receivable $ 360,000 Allowance for uncollectible accounts (credit) 6,000 Sales 1,680,000 Sales returns and allowances 30,000 1. Prepare journal entries to record all of these transactions and the uncollectible accounts expense for the period. Assume the estimated expense is 2 per cent of net sales. 2. Give the entry to record the estimated expense for the period if the allowance account is to be adjusted to 5 per cent of outstanding receivables instead of as in (a)