Business, 25.10.2019 01:43 ayowazzzgood

Pincus associates uses the allowance method to account for bad debts. during 2021, its first year of operations, pincus provided a total of $250,000 of services on account. in 2021, the company wrote off uncollectible accounts of $10,000. by the end of 2021, cash collections on accounts receivable totaled $210,000. pincus estimates that 20 % of the accounts receivable balance at 12/31/2021 will prove uncollectible required 1. & 2. what journal entry did pincus record to write off uncollectible accounts during 2021 and to recognize bad debt expense for 2021? (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) view transaction list journal entry worksheet 2 record the write-offs of allowance for uncollectible accounts during 2021 ngte: enter debits before credits event general journal debit credit record entry clear entry view general journal

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Pincus associates uses the allowance method to account for bad debts. during 2021, its first year of...