ABC Cоmpаny hаd the fоllоwing bаlances to begin December. Net credit sales during December were $550,000. Collections during December were $430,000. During December, $1,000 of uncollectible accounts were written off. Debit Credit Accounts Receivable, December 1 $140,000 Allowance for Credit Losses, December 1 $7,300 Instructions Prepare journal entries to record credit loss expense at December 31, assuming: 5% of gross accounts receivable at the end of the month are estimated to be uncollectible. An aging analysis prepared at the end of the month showed that $15,000 of accounts receivable are estimated to be uncollectible (assume the allowance has a $7,300 debit balance to begin the month and $2,000 of uncollectible accounts were written off during the month).