Business, 25.03.2021 20:50, pareshrr

Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $76,000, and it estimates that 3% 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 $1,292 credit balance before the adjustment. (b) a $380 debit balance before the adjustment.

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