Need help answering ?

Exercise 7-5 Percent of accounts receivable method LO P2 At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2013, it has outstanding accounts receivable of $70,000, and it estimates that 2% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2013 under the assumption that the Allowance for Doubtful Accounts (a) a $1,190 credit balance before the adjustment (b) a $350 debit balance before the adjustment Adjusting entries (all dated December 31, 2013). view transaction list view general journal Journal Entry Worksheet the adjusting entry to record bad debts expense for year 2013 under the assumption that the Allowance for Doubtful Accounts has a $1,190 credit balance before the adjustment. Credit Debit General Journal Date (a) Dec 31 "Enter debits before credits clear entry record entr