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Prepare the journal entries to record this transaction

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Question - At the end of 2016, Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480.

On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415.2.On March 4, 2017, Sheridan Company receives payment of $4,415 in full from Madonna Inc.

Prepare the journal entries to record this transaction.

Reference no: EM132174113

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