Question

At the end of 2017, Carpenter Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2018, 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
(2) After the write-off?



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  • CreatedMarch 02, 2015
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