![subject](/tpl/images/cats/ekonomika.png)
Business, 30.03.2021 16:10 demetriusmoorep36146
Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of operations, Pincus provided a total of $188,000 of services on account. In 2021, the company wrote off uncollectible accounts of $7,600. By the end of 2021, cash collections on accounts receivable totaled $159,600. Pincus estimates that 5% of the accounts receivable balance at 12/31/2021 will prove uncollectible.
Required:
a. What journal entry did Pincus record to write off uncollectible accounts during 2021?
b. What journal entry should Pincus record to recognize bad debt expense for 2021?
![ansver](/tpl/images/cats/User.png)
Answers: 2
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 08:30, Naomi7021
Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 09:30, linnybear300
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
Answers: 3
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 13:30, drippyc334
What do you recommend adam do to increase production in a business setting that does not seem to value high productivity?
Answers: 3
You know the right answer?
Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of...
Questions in other subjects:
![Konu](/tpl/images/cats/fizika.png)
![Konu](/tpl/images/cats/fizika.png)
![Konu](/tpl/images/cats/health.png)
![Konu](/tpl/images/cats/obshestvoznanie.png)
Social Studies, 30.09.2019 22:00
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 30.09.2019 22:00
![Konu](/tpl/images/cats/istoriya.png)
![Konu](/tpl/images/cats/fizika.png)
Physics, 30.09.2019 22:00
![Konu](/tpl/images/cats/istoriya.png)
History, 30.09.2019 22:00
![Konu](/tpl/images/cats/istoriya.png)