PROBLEM #2 Receivables - Uncollectible Accounts Required: Prepare the entries for the following transactions. (Omit explanations. 10 Points) Dec. 1 Sold merchandise on account to Katrina for $600. 12 Received payment of $400 from Katrina. 31 Made adjusting entry for Uncollectible Accounts Expense, using the percentage of net sales method. Net sales for the year totaled $14,000, uncollectible accounts are estimated at 2 percent, and Allowance for Uncollectible Accounts has a $50 credit balance prior to adjustment Feb. 5 Wrote off Katrina's balance because she filed for bankruptcy. 17 Unexpectedly received the $200 from Katrina