Business, 07.11.2019 21:31 NikkiZoeller

Pincus associates uses the allowance method to account for bad debts. during 2021, its first year of operations, pincus provided a total of $268,000 of services on account. in 2021, the company wrote off uncollectible accounts of $10,800. by the end of 2021, cash collections on accounts receivable totaled $226,800. pincus estimates that 5% 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?

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