Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Debit Credit Accounts receivable $68,000 Allowance for doubtful accounts Sales (all on credit) $ 1,100 482,000 Sales discounts 12,000 Required: a. Demron estimates that 4% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2020, to estimate uncollectible receivables. View transaction list View journal entry worksheet No Date December 31, 2020 General Journal Bad debt expense Allowance for doubtful accounts Debit Credit 2,720 2,720