(Solved): Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Acc ...

Selected unadjusted account balances at December 31,2023 , are shown below for Demron Servicing Required: a. Assume that Demron estimates uncollectible accounts as $2\%$ of receivables. Prepare the adjusting entry required on December 31 , 2023, to estimate uncollectible recelvables. b. During 2024 , credit sales were $\$541,000$ (cost of sales $\$354,710$ ), sales discounts taken were $\$9,000$, accounts recelvable collected were $\$329,900$; and accounts written off during the year totalled $\$7,600$. Prepare the entries to record these transactions. Journal entry worksheet | 14 Note: Entor debits before credis: b. During 2024, credit sales were $\$541,000$ (cot of $\$$ a $\$354,710$ ), $5$ counts taken were $\$9,000$, accounts receivable collected were $\$329,900$, and accounts written off during the year totalled ${}^{?}$; pur plepare the entries to record these transactions. Journal entry worksheet Record the cost of sales during 2024. Nole: Enter detists before oredas. b. During 2024, credit sales were $\$541,00$ : Aliscounts taken were $\$9,000$, accounts recelvable collected were $\$329,900$; and accounts written off oare the entries to record these transactions. Journal entry worksheet Record the collections less sales discounts. Note-Enter debits before credits. b. During 2024 , credit sales were $\$541,000$ ints taken were $\$9.000$, accounts recelvable collected were $\$329,900$; and accounts written off du it the entries to record these transactions. Journal entry worksheet Record the write-off of uncollectible accounts Note: finter debits before oredits. c. Record the adjusting entry required on Dec. mber $31,2\mathrm{C}$. . extimate uncollectible recelvables, assuming it is based on $2\%$ of recelvables: d. Show how accounts recelvable would appear on the December 31, 2024, balance sheet.