incus Associates uses the allowance method to account for bad debts. 2024 was the first year of operations for Pincus, so it ad a $0 opening balance in its allowance for uncollectible accounts. During 2024, Pincus provided a total of $258,000 of ervices on account. In 2024, the company wrote off uncollectible accounts of $10,400. By the end of 2024, cash collections n accounts receivable totaled $218,400. Pincus estimates that 20% of the accounts receivable balance at 12/31/2024 will rove uncollectible. equired: 1. What journal entry did Pincus record to write off uncollectible accounts during 2024? 2. What journal entry should Pincus record to recognize bad debt expense for 2024? lote: If no entry is required for a transaction/event, select "No journal entry required"

incus Assoclates uses the allowance method to account for bad debts. 2024 was the first year of operations for Pincus, so it ad a $0 opening balance in its allowance for uncollectible accounts. During 2024 , Pincus provided a total of $258,000 of ervices on account. In 2024, the company wrote off uncollectible accounts of $10,400. By the end of 2024 , cash collections n accounts receivable totaled $218,400. Pincus estimates that 20% of the accounts receivable balance at 12/31/2024 will rove uncollectible. equired: 1. What journal entry did PIncus record to write off uncollectible accounts during 2024 ? 2. What journal entry should Pincus record to recognize bad debt expense for 2024 ? ote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field