Brief Exercise 7-11 (Static) Uncollectible accounts; adjusting the allowance, debit balance [LO7-5, 7-6] At the end of the year, Syer Associates had a debit balance in its allowance for uncollectible accounts of $12,000 before adjustment. The balance in Syer's gross accounts receivable is $600,000. Syer's management estimates that 10% of its accounts receivable balance will not be collected. What journal entry should Syer record to adjust its allowance for uncollectible accounts? (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment to the allowance for uncollectible accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal