Brief Exercise 5-24 (Algo) Determine financial statement effects of writing off uncollectible accounts (LO5-4) At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $24,500. By the end of the year; actual bad debts totai $26,500. Determine the financial statement effects of writing off an uncollectible account (Amounts to be deducted should be entered with minus sign.)