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Mazle Supply Company uses the percent of accounts receivable method. On December 31, It has...

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Accounting

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Mazle Supply Company uses the percent of accounts receivable method. On December 31, It has outstanding accounts receivable of $83,500, 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 $1,420 credit balance before the adjustment. (b) a $418 debit balance before the adjustment 5:16 View transaction list Journal entry worksheet

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