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Svetlanka [38]
3 years ago
12

At the end of 2016, Sunland Company has accounts receivable of $653,700 and an allowance for doubtful accounts of $24,200. On Ja

nuary 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,245. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount (b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off? Before Write-Off After Write-Off Cash realizable value $Enter a dollar amount $Enter a dollar amount
Business
1 answer:
SVETLANKA909090 [29]3 years ago
5 0

Answer:

Bad debt expense                         $4,245

 Allowance for doubtful Accounts           $4,245

Cash realizable before write off is ( $653,700 - $24,200) $629,500

Cash realizable after write off is ( $653,700 - $24,200) $629,500

**our realizable amount does not changed after specific write off because we automatically subtract the entire allowance from the accounts receivable. When we write off the actual account we remove it from our allowance.

Explanation:

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. From the following list of account balances, calculate the correct amount of current liabilities: Accounts receivable $ 5,000
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Answer:

The answer is A.

Explanation:

Current liabilities are the total amount of money due within a period of s year. Current liabilities must be repaid within a year(less than 12 months.

Current liabilities in this question are:

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This monitoring will help to understand consumption and satisfaction trends so that the purchase and sales strategy is carried out more effectively and aligned.

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Learn more here:

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