Question: Recording Write-Offs and Computing Net Receivables Andler inc estimates that an allowance of $14,400 is required on its accounts receivable balance of 5288,000 as of
Recording Write-Offs and Computing Net Receivables Andler inc estimates that an allowance of $14,400 is required on its accounts receivable balance of 5288,000 as of December 31 of Year 1. Required a. What is the net amount expected to be collected on its accounts receivable as of December 31 of Year 17 5 b. On February 1 of Year 2 , the company determined that $3,600 of specific accounts recelvable would be written off. 1. Prepare the journal entry required to write off these accounts. 2. What is the net amount expected to be collected on its sccounts receivable after the write-olf? c. On February 15 of Year 2, the company unexpectedly collected 3900 of the accounts written off on february I of year 2. 1. Prepare the joumal entries required upon collection of these accounts. 2. What is the net amount expected to be callected on its decounts receivabie after the collecton? $272.700
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