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Savad Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $134,500, and it estimates that
Savad Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $134,500, 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 $2,287 credit balance before the adjustment (b) a $673 debit balance before the adjustment. View transaction list Journal entry worksheet 1 2 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $2,287 credit balance before the adjustment. Note: Enter debits before credits Debit Credit General Journal Transaction (a) w 6 of 9 ED
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