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 $94,500, and it estimates that 5% 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 $1,607 credit balance before the adjustment. (b) a $473 debit balance before the adjustment. View transaction list Journal entry worksheet 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $1,607 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $473 debit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit Clear entry Record entry View general journal Following are selected transactions of Danica Company for 2016 Dec. 13 Accepted a $20,000, 45-day, 8% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31St and use the calculated value to prepare your journal entries. Do not round your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below General Journal Interest Amounts Complete the table to calculate the interest amounts at December 31st Interest Total Through Recognized Maturity December 31 Principal Rate (%) Time Total interest Interest Amounts General Journal> Interest Amounts General Journal Use the calculated value to prepare your journal entries View transaction list Journal entry worksheet 2 Record acceptance of a $20,000, 45-day, 890 note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable. Note: Enter debits before credits. Date General Journal Debit Credit Dec 13, 2016 Record entry Clear entry View general journal Journal entry worksheet 2 Prepare an adjusting entry to record the accrued interest on the Lee note. Note: Enter debits before credits. Debit Date General Journal Credit Dec 31, 2016 Record entry Clear entry View general journal Following are selected transactions of Danica Company for 2016 and 2017 2016 Dec. 13 Accepted a $30,000, 45-day, 10% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable 31 Prepared an adjusting entry to record the accrued interest on the Lee note. 2017 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13 Mar. 3 Accepted a $24,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company 17 Accepted a $22,000, 30-day, 8% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable Apr. 16 H. Cheng dishonored his note when presented for payment. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas payment for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year) Complete this question by entering your answers in the tabs belovw General Journal M Lee Note Tomas Co Note H Cheng Note Complete the table to calculate the interest amounts Amount Total Through Accrued at Recognized Interest Maturity December 31 January 27 Principal Rate (%) T ime Total interest General omas Co Not M Lee Note H Cheng Note First, complete the table below to calculate the interest amounts Total Through Maturity Principal Rate (%) Time Total interest H Cheng Note> MLee Note General Journal M Lee Note Tomas Co Note Cheng Note First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate (%) Time Total interest General Journal K Tomas Co Note Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below General Journal M Lee Note Tomas Co Note H Cheng Note Use those calculated values to prepare your journal entries View transaction list Journal entry worksheet 6 Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared Note: Enter debits before credits. Date General Journal Debit Credit Jan 27, 2017 Clear entry Record entry View general journal KH Cheng Note General Journal Journal entry worksheet 4 Accepted a $24,000, 696, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits before credits. Debit Date General Journal Credit Mar 03, 2017 Record entry Clear entry View general journal Journal entry worksheet 4 6 Accepted a $22,000, 30-day, 890 note dated March 17 in granting H. Cheng a time extension on his past-due account receivable Note: Enter debits before credits. Date General Journa Debit Credit Mar 17, 2017 Record entry Clear entry View general journal Journal entry worksheet 4 6 H. Cheng dishonored his note when presented for payment Note: Enter debits before credits. Debit Date General Journal Credit Apr 16, 2017 View general journal Record entry Clear entry Journal entry worksheet 2 4 6 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date General Journal Debit Credit May 01, 2017 Record entry Clear entry View general journal Journal entry worksheet 4 6 tareh ed the Tonas payment fer priopal and ed Note: Enter debits before credits. Date General Journal Debit Credit Jun 01, 2017 Clear entry Record entry View general journal