Exercise 5-7A Establish an allowance for uncollectible accounts and write off accounts receivable (LO53,54) During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021 , cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible. In 2022 , the company writes off uncollectible accounts of $10,000. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)