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Prepare the journal entry to record the write-off

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Question - At the end of 2021, Metlock Co. has accounts receivable of $718.400 and an allowance for doubtful accounts of $22,800. On January 4, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a Write-off of $4.359.

Required -

(a) Prepare the journal entry to record the write-off.

(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?

Reference no: EM133153386

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