(Solved): True Religion Brand Jeans uses premlum denim to produces jeans. True Religion uses the allowance me ...

True Religion Brand Jeans uses premlum denim to produces jeans. True Religion uses the allowance method to account for bad debts. The current year was the ist year of operations for True Religion, so it had a \( \$ 0 \) opening balance in its allowance for uncollectible accounts. During the current yeac, the True Religion provided a total of \( \$ 252,000 \) of goods (mostly jeans) on account. During the current year, True Religion wrote off uncollectible accounts of \( \$ 10,200 \). By the end of the current year, cash collections on accounts receivable totaled \( \$ 214,200 \). True Religion estimates that \( 20 \% \) of the accounts recelvable balance at \( 12 / 31 \) of the current year will prove uncollectible. Required: 1. Please answer: what journal entry did True Religion record to write off uncollectithe accounts during the curtent year? 2. What journal entry should True Relision record to recognize bad debt expense for the current year? Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account fleld. Journal entry worksheet Record the wrike-offs of allowance for uncollectible accounts during the current year. Whic: tinter debits before creats: Journal entry worksheet Record the write-offs of allowance for uncollectible accounts during the current year. Note: Enter debits before credits. Journal entry worksheet Record the entry to recognize bad debt expense for the current year. Note: Enter debits before credits.