Realizable value of accounts receivable before write off

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Reference no: EM13918902

At the end of 2013, Morley Co. has accounts receivable of $891,400 and an allowance for doubtful accounts of $26,620. On January 24, 2014, it is learned that the company's receivable from Spears Inc. is not collectible and therefore management authorizes a write-off of $4,460.

(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: EM13918902

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