it is my accounting class assignment, please help me
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $56,000, and it estimates that 4% will be uncollec'tible. Prepare the yearend adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $952 credit balance before the adjustment. (b) a $280 debit balance before the adjustment. View transaction list Journal entry worksheet Prepare the yearend adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $280 debit balance before the adjustment. Nobe: Enter debits before credits. (b) Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $56,000, and it estimates that 4% will be uncollectible. Prepare the yearend adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $952 credit balance before the adjustment. (b) a $280 debit balance before the adjustment. WEW transaction "St Journal entry worksheet Prepare the yearend adjusting entryr to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $952 credit balance before the adjustment. Note: Enter debits before credits. At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 918, 080 Credit sales 318, 080 Its year-end unadjusted trial balance includes the following items. Accounts receivable $143, 20e debit Allowance for doubtful accounts 6,808 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5%% of credit sales, (2) 3% of total sales and (3) 8% of year-end accounts receivable. View transaction list Journal entry worksheet