During 2021, its first year of operations, Pave Construction provides services on account of $124,000. By the end of 2021, cash collections on these accounts total $92,000. Pave estimates that 30% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $8,640. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2021
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