Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts Debit Credit $70,000 $ 1,100 480,000 8,000 Required: a. Demron estimates that 1.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2020, to estimate uncollectible receivables. View transaction lit X 1 Record the estimate for uncollectible accounts. Credit Note ournal entry has been entered Record entry Clear entry View general journal b. During 2021, credit sales were $620,000 (cost of sales $406,500); sales discounts of $12,000 were taken when accounts receivable of $440,000 were collected; and accounts written off during the year totalled $10,000. Prepare the entries for these transactions. View transaction ist 1 Record the credit sales during 2021 2 Record the cost of sales during 2021 Record the collections les sales discounts. * Record the write-off of uncollectible accounts. Sredit Note - Journal entry has been entered c. Record the adjusting entry required on December 31, 2021 to estimate uncollectible receivables, assuming it is based on 1.5% of net credit sales. View transaction list Record the estimate for uncollectible accounts. Credit Note: - Journal entry has been entered Record entry Clear entry View general Journal IN d. Show how accounts receivable would appear on the December 31, 2021, balance sheet Partial Balance Sheet Assets Current assets