Homework: HW 7 - Chapter 7 Score: 0 of 4 pts E7-24A (similar to) Save 5 of 10 (2 complete) HW Score: 6.38%, 3 of 47 pts Question Help Wellness Center, Inc., uses the allowance method to account for uncollectible accounts. On December 31, 2016, Allowance for uncollectible accounts has a $500 credit balance. Journalize the year-end adjusting entry for uncollectible accounts assuming the following independent scenarios: (Record debits first, then credits. Exclude explanations from any journal entries.) . Wellness Center, Inc., estimates uncollectible accounts as 4/5 of 1 percent of net credit sales. Net credit sales for the year equal $1,000,000. 2. Based on an aging of Accounts receivable, Wellness Center, Inc., estimates that uncollectible accounts will equal $3,300 1. Wellness Center estimates uncollectible accounts as 4 / 5 of 1% of net credit sales. Net credit sales for the year equal $1,000,000. Journal Entry Date Accounts Debit Credit Dec 31