Exercise 8-12 Estimating bad debt expense-percentage of receivables LO3 Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Credit Debit $72,000 Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts $ 1,140 498,000 10,000 Required: a. Assume that Demron estimates uncollectible accounts as 3% of receivables. Prepare the adjusting entr 2020 to estimate uncollectible receivables. View transaction Journal entry worksheet 1 Record the estimate for uncollectible accounts. Note: Enter debits before credits General Journal Debit Credit Date December 31 2020