Question

At the end of the first quarter of Year 2, McKinney & Co. reevaluates its receivables. McKinney & Co.’s management decides that $8,500 due from Mangold Corporation will not be collectible. This amount was previously included in the allowance account (refer to RE7-5).
Prepare the journal entry to record the write-off for McKinney & Co.



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  • CreatedDecember 09, 2013
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