Chicago Corporation, which uses the allowance method, has accounts receivable of $25,400 and an allowance for uncollectible

Question:

Chicago Corporation, which uses the allowance method, has of $25,400 and an allowance for uncollectible accounts of $4,900. An account receivable from Tom Novak of $2,200 is deemed to be uncollectible and is written off. What is the amount of net before and after the write-off?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...