Selected unadjusted account balances at December 31, 2017, are shown below for Demron Servicing. Account Debit Credit Accounts receivable $72,000 Allowance for doubtful accounts $ 1,140 Sales (all on credit) 498,000 Sales discounts 10,000 Required: a. Assume that Demron estimates uncollectible accounts as 3.0% of receivables. Prepare the adjusting entry required on December 31, 2017, to estimate uncollectible receivables. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the estimate for uncollectible accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2017 b. During 2018, credit sales were $644,000 (cost of sales $422,240): sales discounts taken were $14,000; accounts receivable collected were $513,400; and accounts written off during the year totalled $11,600. Prepare the entries to record these transactions. Assume Perpetual inventory system is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet