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10 Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $87,000, and it estimates that
10 Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $87,000, and it estimates that 3% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: 3 points (a) a $1,479 credit balance before the adjustment. (b) a $435 debit balance before the adjustment. eBook Hint View transaction list Print References Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $1,479 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) 10 Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $87,000, and it estimates that 3% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: 3 points (a) a $1,479 credit balance before the adjustment. (b) a $435 debit balance before the adjustment. eBook Hint View transaction list Print References Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $435 debit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (b)
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