During ts ferst year of operations, Precious Cargo, Inc. had sales of 56.000. The company uses the allowance method to account for unoollectibles (Assume that there ane ne expected sales nefunds or sales retums for this exorcise) $485000, all on account Industy experience sugests ta preous Carg's purnal entry for expense using the percent of sales method Dec 31 6 5 9 0