please ignr the third picture its just dec 31 transaction which is in fourth image

$ 1 940,000 Holly Supplus uses the allowance method in accounting for uncollectiblo accounts with the estimate based on an aging of accounts receivable. The company had the following account balances on November 30 2020 Accounts Receivable Allowance for Doubitul Accounts (credit balance) The following transactions took place dunng the month of December 2020 (Click the icon to view the transactions.) Besuited 59,000 Transactions Dec 2 Austin Clemens who owes S46,000 is unable to pay on time and has given a 20-day. 9.percent note in settlement of the account 6 Received from Al Klassen the amount owed on a November 6 dishonoured note, plus extra interest for 30 days at 13 percent computed on the maturity value of the note (S15,300) This dishonoured note had been converted to an account receivable on November 6 8 Received notice that a customer (Willie Rae) has filed for bankruptcy Rae owes $39,000. The courts will confirm the amount recoverable at a later date 11 Determined the account receivable for Sara Keppel ($8 200) was uncollectible and wrote it off 18 Received a cheque from the courts in the amount of $26,500 as final settlement of Rae's account 22 Clemens paid the note received on December 2 26 Determined the account receivable for Davey Price (59,200) was uncollectiblu and wrote it off 31 Sales for the month totalled $747.000 (of which 85 percent were on account) and collections on account totalled $520,000 31 Holly Sunnlies did an aning of accounts receivable that indicated that $66.000 is exnected to be uncollectible. The word w Saw (200) was 100 sta se Davey I (80200) was unced 7.000 ( who percent were once and collections Sunscrevable that indicated that 06.000 seeded he proprie fustant Print Done to be converted to an Account Recev Novom 31 Holly Supplies did an aging of accounts receivable that indicated that S66,000 is expected to be uncollectible The company recorded the appropriate adjustment S 1,940,000 ul A - X tior ov Required 1. Record the above transactions in the general journal 2. What would be the adjusting entry required on December 31 if the company used the percent-of-sales method with an estimate of uncollectibles equal to 7 percent of sales on account? 3. Which of the two methods of estimating uncollectible accounts would normally be more accurate? Why? ord cord debits first, ns le e Print Done