during the year, spirit fun had net credit sales of $800,000. past experience shows that 1.5 percent of the firm's net credit sales will be uncollectible. determine the adjusting entry needed to recognize the estimated expense for these uncollectible accounts. multiple choice debit allowance for doubtful accounts $12.000 and credit accounts receivable $12,000. debit uncollectible accounts expense $12,000 and credit allowance for doubtful accounts $12,000. debit uncollectible accounts expense $12,000 and credit accounts receivable $12,000 debit uncollectible accounts expense $120,000 and credit allowance for doubtful accounts $120,000
