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Mazie Supply Company uses the percent of accounts receivable method. On December 31 , it has outstanding accounts receivable of $82,500, and it estimates that

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Mazie Supply Company uses the percent of accounts receivable method. On December 31 , it has outstanding accounts receivable of $82,500, 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 $1,403 credit balance before the adjustment. (b) a $413 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 $1,403 credit batance before the adjustment? Wote Enter debits before credits: 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 $413 debit balance before the adjustment. Note: Enter debits before credits

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