q2

Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $133,500, and it estimates that 6% 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 $2,270 credit balance before the adjustment. (b) a $668 debit balance before the adjustment. View transaction list 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 $2,270 credit balance before the adjustment. Note: Enter debits before credits Transaction General Journal Debit Credit Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $133,500, and it estimates that 6% 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 $2,270 credit balance before the adjustment. (b) a $668 debit balance before the adjustment. View transaction list 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 $668 debit balance before the adjustment. Note: Enter debits before credits Transaction General Journal Debit Credit