Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding...
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Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $51,000, and it estimates that 6% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $867 credit balance before the adjustment. (b) a $255 debit balance before the adjustment. View transaction list Journal entry worksheet 2 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $867 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $51,000, and it estimates that 6% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $867 credit balance before the adjustment. (b) a $255 debit balance before the adjustment. View transaction list Journal entry worksheet 2 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $867 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (a)
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