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Business, 07.04.2020 22:19 wwwcarolynzouowficz
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $49,000, 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 $833 credit balance before the adjustment. (b) a $245 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...
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