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Mazie Supply Co. uses the percent of accounts recelvable method. On December 31 , it has outstanding accounts recelvable of $110,000, and it estimates that

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Mazie Supply Co. uses the percent of accounts recelvable method. On December 31 , it has outstanding accounts recelvable of $110,000, 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 $1,870 credit balance before the adjustment. (b) a $550 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 $550 debit bolance before the adjustment. Notel Lenter debias before credis

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