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Question - At the end of 2021, Sage Hill Co. has accounts receivable of $747,300 and an allowance for doubtful accounts of $25,420. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,624.
Required -
What is the journal entry to this?
What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
Explain the difference between a program revenue and a general revenue. Why does the GASB require this distinction? Be sure to include the sources of the funds.
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margo receives a gift of real estate with an adjusted basis of 175000.00 and a fair market value of 100000.00. the
Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31
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