During 2021, its first year of operations, a company ends the year with accounts receivable of $100,000. The company estimates that 20% of accounts receivable will be uncollectible. Record the adjustment for uncollectible accounts on December 31, 2021.
What will be an ideal response?
| Bad Debt Expense | 20,000 | ? |
| Allowance for Uncollectible Accounts | ? | 20,000 |
Business
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