et #1 Fall 2021 Saved Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Credit Debit $73,000 Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts $ 1,160 507,000 11,000 Required: a. Assume that Demron estimates uncollectible accounts as 3% of receivables. Prepare the adjusting entry required on December 31, 2020 to estimate uncollectible receivables. View transaction list Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31 2020 Most Saved Fall 2021 b. During 2021, credit sales were $656,000 (cost of sales $430,110); sales discounts taken were $15,000; accounts receivable collected were $550,100; and accounts written off during the year totalled $12,400. Prepare the entries to record these transactions. View transaction list Journal entry worksheet 1 Record the estimate for uncollectible accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general Journal d. Show how accounts receivable would appear on the December 31, 2021 balance sheet. Partial Balance sheet Assets Current assets