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Prepare the journal entry to record the write-off

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At the end of 2010, Delong Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2011, the company learns that its receivable from Ristau Inc. is not collectible, and management authorizes a write-off of $5,400.

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

(b) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?

Reference no: EM13512009

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