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At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to...

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Accounting

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At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2017, it has outstanding accounts receivable of $49,500, and it estimates that 5% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has: (a) a $842 credit balance before the adjustment. (b) a $248 debit balance before the adjustment. View transaction list 1 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $842 credit balance before the adjustment. pense ance efore 2 Prepare the adjusting entry to record bad debts expense for year 2017 under the assumption that the Allowance for Doubtful Accounts has a $248 debit balance before the adjustment. Credit Note :journal entry has been entered Record entry Clear entry View general journal

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