Mazie Supply Company uses the percent of accounts receivable method. On December 31 , it has outstanding accounts receivable of $87 , 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 $1 , 479 credit balance before the adjustment. (b) a $435 debit balance before the adjustment. Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $1 , 479 credit balance before the adjustment. Note: Enter debits before credits. Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $435 debit balance before the adjustment. Note: Enter debits before credits. .

1. Mazzanti Wholesale Food Company's fiscal year-end is June 30 . The company issues quarterly
financial statements requiring the many to prepare adjusting entries at the end of each quarter.
Assume all quarterly adjusting entries were properly recorded. On December 1,2020, the
company paid ats annual fire insurance premium of $5 , 200 for the year beginning December 1
and debited prepaid insurance. On Auqust 31, 2020, the company borrowed $85 , 000 from a
local bank. The note requires principal and interest at 8% to be paid on August 31, 2021
Mazzanti owns a warehouse that it rents to another company: On January 1, 2021. Mazzanti
collected $22 , 400 representing rent for the 2021 calendar year and credited deferred rent
revenue. Depreciotion on the office building is $16.800 for the fiscal year. Employee salaries for
the month of June 2021$17 , 500 will be paid on July 20,2021. pare the necessary year-end
adjusting entries at the end of June 30.2021, for the above situations. (If no entry is required for a
insection/event, seiect "No journol entry required" in the first occount field.)