5 Exercise 9-6 Percent of accounts receivable method LO P3 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 $101,500, and it estimates that 4% 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 Book (a)a $1,726 credit balance before the adjustment (b) a $508 debit balance before the adjustment. Hint view transaction list Journal entry worksheet Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $1,726 credit balance before the adjustment Note: Enter debits before credits General Journal Credit Debit Record entry Clear entry View general journal Exercise 9-6 Percent of accounts receivable method LO P3 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 $01,500, and it estimates that 4% 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 $1,726 credit balance before the adjustment (b)a $508 debit balance before the adjustment View transaction list Journal entry worksheet Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $508 debit balance before the adjustment. Note: Enter debits before credits. Debit Credit General Journal Record entry Clear entry View general journal