Help 9 Exercise 7-6 Percent of accounts receivable method LO P3 0.66 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 $149,500, and it estimates that 4% will be uncollectible. SkippedPrepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has: (a) a $2,542 credit balance before the adjustment. (b) a $748 debit balance before the adjustment View transaction list Hint ournal 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 $2,542 credit balance before the adjustment. Note: Enter debits befare credits Debit C Prev 9 of 15 Homework 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 $149,500, 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: ipped(a) a $2,542 credit balance before the adjustment (b)a $748 debit balance before the adjustment View transaction list Book Journal entry worksheet Hint Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $748 debit balance before the adjustment. Referenvces Note: Enter debits before credits Debit Cre Clear entry View general journal Record entry Prev 9 of E Next >