Valuing Accounts Receivable a. Allowance Method i. Company A made a sale for $2,150 on account on February 15. Prepare the journal entry. ii. On February 28 Company A collected $1,150 of the credit sale. Prepare the journal entry. iii. On March 5 Company A has estimated that $500 of the debt is uncollectible. Prepare the journal entry. iv. On March 8 Company A made a write-off of uncollectible account for \$250. Prepare the journal entry. v. Recovery of an Uncollectible Account in the Allowance Method 1. On March 25 the client pays the $250 amount that Company A had written off, the entries should be: vi. Percentage of sales to estimate the uncollectible amount. 1. Asume that A Company use the percentage of sales method. It concludes that 3% of net credit sales will become uncollectible. If the net credit sales for 2022 are $1,250,000, the adjusting entry should be