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Mazle Supply Co. uses the percent of accounts recelvable method. On December 31 , it...

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Accounting

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Mazle Supply Co. uses the percent of accounts recelvable method. On December 31 , it has outstanding accounts receivable of $131,000, and it estimates that 5% 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 $2,227 credit balance before the adjustment. (b) a $655 debit balance before the adjustment. 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 52,227 credit balance before the adjustment. Note: Enter debits before credits

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