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19 Exercise 9-6 Percent of accounts receivable method LO P3 9.09 points At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable
19 Exercise 9-6 Percent of accounts receivable method LO P3 9.09 points 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 $126,500, and it estimates that 5% will be uncollectible Skipped Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has (a) a $2,151 credit balance before the adjustment. (b) a $633 debit balance before the adjustment. eBook View transaction list Hint Journal entry worksheet Print 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $2,151 credit balance before the adjustment Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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