Maize Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $113,500, and it estimates that 5% will be uncollectible.

Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has:

(a) a $1,930 credit balance before the adjustment.

(b) a $568 debit balance before the adjustment.

Mazie Supply Co. uses the percent of accounts receivable method On December 31, it has outstanding accounts receivable of $113,500, and it estimates that 5% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has (a) a $1.930 credit balance before the adjustment. (b) a $568 debit balance before the adjustment Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $1,930 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journal Journal entry worksheet 12 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $568 debit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit (b) Record entry Clear entry View general journal