On November 30, Precise Party Planners had a $40,000 balance in Accounts Receivable and a $3,140 credit balance in Allowance for Uncollectible Accounts. During December, Precise made credit sales of $197,000. December collections on account were $164,000, and write-offs of uncollectible receivables totaled $2,850. Uncollectible-accounts expense is estimated as 1% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during December. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Begin by recording the journal entry for December sales Journal Entry Accounts Date Debit Credit (a) 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during December. Explanations are not required. 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at December 31. How much does Precise expect to collect? 3. Show how Precise Party Planners will report accounts receivable and net sales on its December 31 balance sheet and income statement for the month ended December 31