Use the data below, to respond to the three questions below:

• Prepare the adjusting journal entry for uncollectible accounts at the end of the year. Label Question #6 JE

• Doubtful Accounts Expense for 2021 Label Question #6 Expense

• Net Accounts Receivable as of 12/31/2021 Label Question #6 Net A/Rec

A company has the following account balances at the end of the year.

• Accounts Receivable $85,000
• Allowance for Uncollectible Accounts $300 (normal balance)
• Doubtful Accounts Expense $0

The company estimates future uncollectible accounts to be 5% of accounts receivable.