D-Uncollectible Accounts 1 Before adjustments, ABC Company had the following balances on December 31, 2008: T = 12 Net Sales $550,000 Accounts Receivable Allowance for Doubtful Accounts 65,000 3,000 Credit Prepare the Journal Entry to record the Estimated Uncollectible Accounts assuming: a) ABC uses the Percentage of Sales approach, and estimates that 1% of Net Sales will be uncollectible. Do NOT write an explanation. Show your calculations. b) ABC uses the Percentage of Receivables approach. An aging of the Accounts Receivable estimated the Net Realizable Value of the Receivables to be $57,800. Do NOT write an explanation. Show your calculations. c) On March 5, 2009, ABC decided that a $500 Receivable was uncollectible. Prepare the Journal Entry to write-off the account. Do NOT write an explanation