Prepare the journal entry to record the write-off credit

Reference no: EM13570570

At the end of 2012, Henderson Co. has accounts receivable of $806,490 and an allowance for doubtful accounts of $61,580. On January 24, 2013, the company learns that its receivable from Jaime Lynn is not collectible, and management authorizes a write-off of $6,180.

(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

(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		$		$

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Reference no: EM13570570

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