Time recommendation: 7 minutes Arbo Ltd uses the allowance method to account for bad debt expense. Arbo makes credit sales of $700,000 during the year and estimates that $70,000 will not be collected. At the end of the financial year. Arbo determines that $15,000 is uncollectible and should be written off. Required: Prepare the journal entries to record the credit sales, bad debt expense and the write-off of uncollectible amounts. ( 3 marks) Note: No dates and explanations are required to accompany the journals. General Journal To record the credit sales: Dr. To record the bad debt expense: Dr. To record the write off: Cr