This company prepares financial statements only once a year. In accounting fo

This company prepares financial statements only once a year. In
accounting for uncollectible accounts it uses the allowance method.
For the most recent year give general journal entries for the following. Beginning of the year balances:no journal entries needed for begenning
Accounts Receivable 411212
Allowance for uncollectible accounts 8690
Uncollectible Accounts Expense ? 1 Sales for the year were 1662000. 75% of sales are credit sales 2 Collection on credit sales for the year were 970000 3 Wrote off 8300 of specific customer accounts 4a At year end estimate uncollectible accts to be 1.25% of credit sales 4b Instead of 4a the company ages it receivables and estimated 8700
as uncollectible