Present the journal entry necessary to record each of the following items, assuming King Company uses the Allowance method of accounting for Uncollectible Accounts (Bad Debts) 1. Uncollectible Accounts Expense for the year is estimated to be 6% of Net Sales. Net Sales for the year we $100,000 and the Allowance account has a 5600 credit balance 4. The company received 5200 from a customer whose account had been previously written off as uncollectible 2. A $20,000 note is received from a customer on account 3. The 5800 bulance in an individual customer's account is written off as uncollectible