c. Record the adjusting entry required on December 31,2024 , to estimate uncollectible receivables, assuming it is based on 4% of net credit sales. b. During 2024 , credit sales were $541,000 (cost of sales $354,710 ); sales discounts of $9,000 were taken when accounts receivable of $329,900 were collected; and accounts written off during the year totalled $7,600. Prepare the entries for these transactions. d. Show how accounts receivable would appear on the December 31, 2024, balance sheet. Exercise 8-11 Estimating bad debt expense-percentage of sales LO3 Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Demron estimates that 4% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on D 2020 , to estimate uncollectible receivables