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1. Record the adjusting entry for Uncollectible accounts. During 2021, its first year of operations, Sooner Co. provides services on account of $124.000. By the

1. Record the adjusting entry for Uncollectible accounts.
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During 2021, its first year of operations, Sooner Co. provides services on account of $124.000. By the end of 2021, cash collections on these accounts total $92,000. Sooner estimates that 30% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $8.640

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