At the end of 2016 safer co has accounts receivable of, Accounting Basics

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At the end of 2016 safer co has accounts receivable of

Question: At the end of 2016, Safer Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,300.

(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?

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Accounting Basics: At the end of 2016 safer co has accounts receivable of

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Accounting Basics: At the end of 2016 safer co has accounts receivable of

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