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What is the cash realizable value of the accounts receivable

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Reference no: EM13512000

At the end of 2009, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2010, it is learned that the company's receivable from Novinger Inc. is not collectible and therefore management authorizes a write-off of $2,000.

(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: EM13512000

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