PROBLEM 1 Instructions: Prepare the appropriate general journal entries for each of the following situations (1) Net sales for the year are $800,000, bad debt expense is estimated at 3% of net sales, and the allowance account has a $425 credit balance before adjustment. Prepare the adjusting entry at year end for the uncollectibles. (2) Based on an analysis of accounts in the customers' ledger, estimated uncollectible accounts total $6,280, and the allowance account has a $325 credit balance before adjustment. Prepare the adjusting entry at year end for the uncollectibles. ble. The allowance method is used. months earlier, is collected in full. The allowance method is used. (3) A $3,500 account receivable from Bentley Co. is wrilten off as uncollecti- (4) A $1.235 account receivable from Apple Co., which was written off three JOURNAL PAGE 21