QS 8-5 Adjusting entry to estimate bad debts-percentage of sales LO2,3 Lexton Company uses the allowance method to account for uncollectible accounts receivable. At year- end, October 31, it was estimated that 0.6% of net credit sales were uncollectible based on past experience. Net sales were $690,000, of which 2/3 were on credit. Record the entry at year-end to estimate uncollectible receivables