XXVIII Three-Hand, Inc. uses the percent of sales method to determine the amount of bad debt expense. At the end of a period, it estimated that.03% of its $7,000,000 credit sales will be uncollectible. Make the journal entry regarding its estimated uncollectible debt. XXIX. Referring to problem XXIX, assume Three-Hand, Inc. uses the percent of receivables method. Currently, its receivables are $2,500,000 and it believes that 1.5% of those receivables will be uncollectible. Make the journal entry regarding its estimated uncollectible debt when currently, there ispa $12,000 credit balance in the Allowance for Doubtful accounts