Business, 16.04.2020 17:29, SeleneBlackburn25

Exercise 9-6 Percent of accounts receivable method LO P3 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 $54,500, and it estimates that 6% 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 $927 credit balance before the adjustment. (b) a $273 debit balance before the adjustment.

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Exercise 9-6 Percent of accounts receivable method LO P3 At each calendar year-end, Mazie Supply Co....