The Links Company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transactions occurred: Links Company determined that the $8,000 account receivable of the Rainier Company was Sept. 7 uncollectible, and wrote it off. Links Company determined that the s3,500 account receivable of the Olympic Company was Oct.15 uncollectible and wrote it off. Rainier Company paid $6,000 of the amount owed to the Links Nov. 9 Company. Links Company does not expect further collections from the Rainier Company. Links Company estimates that 1% of its $1,900,000 of credit Dec. 31 sales would be uncollectible. 1. Prepare the general journal entries to record these transactions. credit on January 1 of the current year, determine the 2. If the of the for collectible accounts was a $4,000 above are of the for accounts at December 31 of the current year. Assume that the transactions the only allowance uncollectible during year. transactions affecting the allowance for accounts the