v Gradebook /Int: X u Question 20f5 - X u Question 4 of 4 X u Question 30f4 X u Question 20f3 X Course Hero x + o x 15/30 = : I At the end of 2023, Concord Corporation has accounts receivable of $2.55 million and an allowance for expected credit losses of $122,000. On January 16, 2024, Concord determined that its $19,400 receivable from Sheridan Company will not be collected, and management has authorized its write-off. On January 31, 2024, Concord received notification that the company will receive $0.15 for every $1.00 of accounts receivable relating to Crane Company The company had previously written off 100% of the amount due from Crane ($55,000). (a) v Your answer is correct. Prepare the journal entry for Concord to write-off the Sheridan receivable and any journal entry needed to reflect the notice regarding Crane. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Sheridan Company accounts receivable write-off: Account Titles and Explanation Debit Credit Allowance for Expected Credit Losses | | 19400 ' | = N3 HQr "8 RCABISENG-B L ~ocan RS Q A Gradebook / Inte X WP Question 2 of 5 - X WP Question 4 of 4- X WP Question 3 of 4 - > WP Question 2 of 3 - X Course Hero X + X go education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=9d10df6f-4540-4e14-8ccd-dad75ae1f34d#/qu.. K Finish update Assignment 7 - Ch.7 Question 3 of 4 15 / 30 E ... (b) What is the estimated net realizable value of Concord's accounts receivable before and after the entries above? What is the book value of Concord's accounts receivable before and after the entries above? Before After Adjustments Adjustments $ Net Realizable Value $ $ $ Book Value e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Q LD W A P NO 10:56 AM 8/4/2024 PRE