Exercise Algo Percent of accounts receivable method LO P
Mazie Supply Company uses the percent of accounts receivable method. On December it has outstanding accounts receivable of $ and it estimates that will be uncollectible.
Prepare the yearend adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has:
a a $ credit balance before the adjustment.
b a $ debit balance before the adjustment.
Journl entry worksheet
eferences
Prepare the yearend adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $ credit balance before the adjustment.
Note: Enter debits before credits.
tableTransactionGeneral Journal,Debit,Credita
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