Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Debit Credit Accounts receivable $69,000 Allowance for doubtful $ 1,120 accounts Sales (all on credit) 491,000 13,000 Sales discounts Required: a. Demron estimates that 3.5% 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 Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits. Date December 31, 2020 General Journal Debit Credit < Prev 5 of 10 Next