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Exercise 7-7 Percent of accounts receivable method LO P3 Mazie Supply Co. uses the percent of accounts receivable method On December 31, it has outstanding accounts receivable of $107,500, and it estimates that 3% 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 $1,828 credit balance before the adjustment (b) a $538 debit balance before the adjustment View transaction et Journal entry worksheet 1 2 > nces Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $1,828 credit balance before the adjustment NoteEnter debits before credits General Journal Debit Credit Transaction (a)