Question: Please answer peoblem #3, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! At the end of 2021, Swifty Corporation has accounts receivable of $673,200

Please answer peoblem #3, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!

At the end of 2021, Swifty Corporation has accounts receivable of $673,200 and an allowance for doubtful accounts of $24,010. 1 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 $4.147. On March 4, 2022, Swifty Corporation receives payment of $4.147 in full from Madonna Inc. 2 Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1 2 (To record recovery of accounts receivable.) (To record collection of accounts receivable.)

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