Question

At the end of 2015, Carpenter Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2016, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $6,200.
(a) Prepare the journal entry to record the write-off.
(b) What is the cash realizable value of the accounts receivable
(1) Before the write-off and
(2) After the write-off?



$1.99
Sales6
Views383
Comments0
  • CreatedFebruary 17, 2014
  • Files Included
Post your question
5000