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Mazie Supply Company uses the percent of accounts receivable method On December 31, it has...

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Accounting

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Mazie Supply Company uses the percent of accounts receivable method On December 31, it has outstanding accounts receivable of $57,500, and it estimates that 2% 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 $978 credit balance before the adjustment (b) a $288 debit balance before the adjustment View transaction ist 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 $978 credit balance before the adjustment. Note: Enter debits before credits. General Journal Dobit Credit Transaction (0) Record entry Clear entry View general journal Journal entry worksheet

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