Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Credit Debit $70,000 Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts $ 1,100 480,000 8,000 Required: a. Assume that Demron estimates uncollectible accounts as 2% of receivables. Prepare the adjusting entry required on December 31, 2020 to estimate uncollectible receivables. View transactionist 1 Record the estimate for uncollectible accounts. Credit Note journal 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 taken were $12,000; accounts receivable collected were $440,000; and accounts written off during the year totalled $10,000. Prepare the entries to record these transactions. View transaction list X > 1 Record the credit sales during 2021. 2 Record the cost of sales during 2021. 3 Record the collections less sales discounts. Record the write-off of uncollectible accounts. redit 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 2% of net credit sales. View transaction list X 1 Record the estimate for uncollectible accounts. Credit Note: - Journal entry has been entered Record entry Clear entry View general journal d. Show how accounts receivable would appear on the December 31, 2021 balance sheet Partial Balance Sheet Assets Current stets