Accounting 100
Brief Exercise 8-3
At the end of 2016, Swifty Corporation has accounts receivable of $673,200 and an allowance for doubtful accounts of $24,010. 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 $4,147.
Prepare the journal entry to record the write-off.
Accounts and titles
1.
2.
What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
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