At the end of 2016, Swifty Corporation has accounts receivable of $673,200 and an allowance for doubtful accounts of $24,010. OnJanuary 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore managementauthorizes a write-off of $4,147.(a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do notindent manually.)Account Titles and ExplanationDebitCredit(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?Before Write-OffAfter Write-OffCash realizable value2$

Given information is: Accounts Receivable = $673,200 Allowance for uncollectible accounts = $24010

Answered: At the end of 2016, Swifty Corporation…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterB: Bad Debts

Section: Chapter Questions

Problem 2P: Hardys Landscape Services total revenue on account for 2018 amounted to 273,205. The company, which...

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