Brief Exercise 5-7 (Algo) Record the adjusting entry for uncollectible accounts (LO5-5) At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $490 (credit before adjustment. The balance of Accounts Receivable is $19,500. The company estimates that 10% of accounts will not be collected over the next year. What adjusting entry would Mercy Cosmetics record for Allowance for Uncollectible Accounts? (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 Record the adjusting entry for Allowance for Uncollectible Accounts. Note: Enter debits before credits. Transaction. General Journal. Debit Credit Record entry Clear entry View general journal