(a)
Account titles and explanation | Debit | Credit |
Allowance for Doubtful Accounts | $4,359 | |
Accounts receivables | $4,359 |
(b)
Before Write-Off | After Write-Off | |
Accounts receivables (A) | $718,400 |
$714,041 [ $718,400 - $4,359 ] |
Allowance for doubtful accounts (B) | $22,800 |
$18,441 [ $22,800 - $4,359 ] |
Cash realizable value (A-B) | $695,600 | $695,600 |
-Your answer is partially correct At the end of 2016, Marigold Corp. has accounts receivable of...
-Your answer is partially correct At the end of 2016, Marigold Corp. has accounts receivable of $718,400 and an allowance for doubtful accounts of $ 22,800. On January 24,2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $ 4,359 (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit...
At the end of 2016, Marigold Corp. has accounts receivable of $718,400 and an allowance for doubtful accounts of $22,800. 1. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,359. 2. On March 4, 2017, Marigold Corp. receives payment of $4,359 in full from Madonna Inc. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered....
Brief Exercise 8-03 a-b At the end of 2021, Metlock Co. has accounts receivable of $718,400 and an allowance for doubtful accounts of $22,800. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,359. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b) What...
Your answer is partially correct. Try again. At the end of 2016, Metlock, Inc. has accounts receivable of $666,300 and an allowance for doubtful accounts of $24,740. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,398. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit...
At the end of 2021, Skysong Co. has accounts receivable of $690,100 and an allowance for doubtful accounts of $25,090. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,913. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b) What is the cash realizable...
Brief Exercise 8-3 At the end of 2016, Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (b) What is the cash realizable value of the...
Current Attempt in Progress At the end of 2021, Teal Mountain Co. has accounts receivable of $697,200 and an allowance for doubtful accounts of $22,590. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,513. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit What...
CALCULATOR PRINTER VERSION BACK Brief Exercise 8-3 At the end of 2016, Crane Company has accounts receivable of $713,800 and an allowance for doubtful accounts of $23,690. On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,885. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit...
At the end of 2016, Wildhorse Co. has accounts receivable of $690,100 and an allowance for doubtful accounts of $25,090. On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,913. - Your answer is partially correct. Use a tabular summary to record the write-off. Enter 2016 amounts as beginning balances. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses...
at the end of 2021, Teal Mountain CO has accounts receivable E L ULUJUILWI Wassement-player products/41411-78-4bca-Bedo-c07684021 ssessments/850-cac-de-ate-de C A View Policies Current Attempt in Progress At the end of 2021, Teal Mountain Co. has accounts receivable of $697.200 and an allowance for doubtful accounts of $22.590. On January 24, 2022. It is learned that the company receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4.513. Prepare the journal entry to record the write-oft. (Credit...