s8-4 2 Applying the allowance method (percentage of sales) to account for uncollectibles [5-10 min] The Accounts receivable balance for Winter Retreats at December 31, 2011, was $18,000. During 2012, Winter completed the following transactions: a. Sales revenue on account, $447,000 (ignore cost of goods sold). b. Collections on account, $424,000. c. Write-offs of uncollectibles, $5,900. d. Uncollectible account expense, 2% of credit sales. Requirement 1. Journalize Winter's 2012 transactions