Business, 01.07.2020 15:01 ashleyann3052

Exercise 9-7 Percent of accounts receivable method LO P3 Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $89,000, and it estimates that 4% 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 $1,513 credit balance before the adjustment. (b) a $445 debit balance before the adjustment.

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Exercise 9-7 Percent of accounts receivable method LO P3 Mazie Supply Co. uses the percent of accoun...

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