At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate...

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At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2017, it has outstanding accounts receivable of $55,000, and it estimates that 2% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has: (a) a $415 credit balance before the adjustment. (b) a $291 debit balance before the adjustment. View transaction list Journal entry worksheet 1 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $415 credit balance before the adjustment. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry View general journal Clear entry Journal entry worksheet < 1 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $291 debit balance before the adjustment. Note: Enter debits before credits. Transaction (b) General Journal Debit Credit Record entry View general journal Clear entry At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2017, it has outstanding accounts receivable of $55,000, and it estimates that 2% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has: (a) a $415 credit balance before the adjustment. (b) a $291 debit balance before the adjustment. View transaction list Journal entry worksheet 1 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $415 credit balance before the adjustment. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry View general journal Clear entry Journal entry worksheet < 1 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $291 debit balance before the adjustment. Note: Enter debits before credits. Transaction (b) General Journal Debit Credit Record entry View general journal Clear entry