Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing Credit Account Debit Accounts receivable $80,000 Allowance for doubtful accounts Sales (all on Credit) Sales discounts 14,000 $ 1,300 570,000 Required: . Assume that Demon estimates uncollectible accounts as 2.5% of receivables. Prepare the adjusting entry required on December 31 2020 to estimate uncollectible receivables. View transaction lit Journal entry worksheet Record the cost of sales during 2021. Note: Enter debits before credits Year 2021 General Journal Debit Credit Record entry Clear entry View general Journal b. During 2021, credit soles were $740,000 (cost of sales $485,200), sales discounts taken were $18,000, accounts receivable collected were $660,200, and accounts written off during the year totalled $14,800. Prepare the entries to record these transactions View transaction list Journal entry worksheet 2 3 4 Record the collections less soles discounts Note: Enter debits before credits General Journal Year 2021 Dobit Credit Record entry Clear entry View general Journal b. During 2021 credit sales were $740,000 (cost of sales $485,200), sales discounts taken were $18.000, accounts receivable collected were $660, 200, and accounts written off during the year totalled $14,800 Prepare the entries to record these transactions, View transaction list Journal entry worksheet