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Mazie Supply Company uses the percent of accounts receivable method. On December 31 , it has outstanding accounts receivable of $120,000, and it estimates that 4% 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 $2,040 credit balance before the adjustment. (b) a $600 debit balance before the adjustment. Journal entry worksheet 2 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $2,040 credit balance before the adjustment. Note: Enter debits before credits