PROBLEM 4 (10%) The following transactions appear in the accounting records of Short Circuit Electric Company: Dec 3. Made adjusting entry for Uncollectible Accounts Expense using the percentage of net sales method. Net sales for the year totaled $7,000, uncollectible accounts are estimated at 2 percent, and Allowance for Uncollectible Accounts has a $25 credit balance prior to adjustment. Feb. 5. Wrate off the $100 balance of Northern Lights, a customer, because the owner filed for bankruptex Iz Unexpectedly received the $100 from Northern Lights. REQUIRED: Prepare the necessary journal entries using good form