A fund-raising event for a cancer research institute resulted in $30,000 of new pledges. None of the pledges received were to be restricted in any manner. Experience showed that 25% of the institutes's pledges are uncollectible. The accountants of the institute recognized allowance for uncollectibles of $7,500. The journal entry for the expected uncollectible amount is Blank______. Multiple choice question. Debit Allowance for Uncollectible PledgesUnrestricted by $7,500; Credit ContributionsUnrestricted by $7,500 Debit Pledges ReceivableUnrestricted by $7,500; Credit Allowance for Uncollectible PledgesUnrestricted by $7,500 Debit Bad Debt Expense by $7,500; Credit Pledges ReceivableUnrestricted by $7,500 Debit ContributionsUnrestricted by $7,500; Credit Allowance for Uncollectible PledgesUnrestricted by $7,500