Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Debit $61,000 Account Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales discounts 5,000 $ Credit 960 419,000 Required: a. Assume that Demron estimates uncollectible accounts as 2% of receivables. Prepare the adjusting entry required on December 31, 2023, to estimate uncollectible receivables. b. During 2024, credit sales were $541,000 (cost of sales $354,710); sales discounts taken were $9,000; accounts receivable collected were $329,900; and accounts written off during the year totalled $7,600. Prepare the entries to record these nsactions. c. Record the adjusting entry required on December 31, 2024, to estimate uncollectible receivables, assuming it is based on 2% of receivables. d. Show how accounts receivable would appear on the December 31, 2024, balance sheet.

Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Assume that Demron estimates uncollectible accounts as 2% of receivables. Prepare the adjusting entry required on December 31 , 2023 , to estimate uncollectible receivables. b. During 2024 , credit sales were $541,000 (cost of sales $354,710 ); sales discounts taken were $9,000; accounts recelvable collected were $329,900; and accounts written off during the year totalled $7,600. Prepare the entries to record these transactions. c. Record the adjusting entry required on December 31,2024 , to estimate uncollectible recelvables, assuming it is based on 2% of receivables. d. Show how accounts receivable would appear on the December 31,2024 , balance sheet