Question: Help Save 8 Exit Subm Check my work Pincus Associates uses the allowance method to account for bad debts. 2 0 2 4 was the

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Pincus Associates uses the allowance method to account for bad debts. 2024 was the first year of operations for Pincus, so it had a $0 opening balance in its allowance for uncollectible accounts. During 2024, Pincus provided a total of $255,000 of services on account. In 2024, the company wrote off uncollectible accounts of $10,200. By the end of 2024, cash collections on accounts recelvable totaled $214,200. Pincus estimates that 20% of the accounts recelvable balance at 1231?2024 will prove uncollectible.
Required:
What journal entry did Pincus record to write off uncollectible accounts during 2024?
What journal entry should Pincus record to recognize bad debt expense for 2024?
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
\table[[No,Event,General Journal,Debit,Credit],[1,1,Allowance for uncollectible accounts,10,200,],[,,Accounts receivable,,10,200],[2,,,,],[,2,Bad debt expense,,],[,,Allowance for uncollectible accounts,,]]
Help Save 8 Exit Subm Check my work Pincus

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