the year, a company has the following accounts receivable and estimates of 2. At the end of the year, a company has the follow uncollectible accounts: s not yet due - $70,000, estimated uncollectible = 4%. 2. Accounts 1-30 days past due $30,000; estimated uncollectible -15%. 3. Accounts more than 30 days past due = $5,000; estimated uncollectible = 40%. Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $1,200 (debit). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $120,000 36,000 1,500 (credit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 10% of receivables will not be collected, and (2) using the percentage- of-credit-sales method, assuming the company estimates 2% of credit sales will not be collected. Credit sales for the year Accounts receivable Allowance for uncollectible accounts $120,000 36,000 1,500 (credit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 10% of receivables will not be collected, and (2) using the percentage of-credit-sales method, assuming the company estimates 2% of credit sales will not be collected