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Accounts receivable transactions are provided below for J Crane Co. Dec 31, 2020 The company estimated that 3% of its accounts receivable would become uncollectible.
Accounts receivable transactions are provided below for J Crane Co. Dec 31, 2020 The company estimated that 3% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $684,000 and $3,000 (debit), respectively. Mar. 5, 2021 The company determined that R. Mirza's $3,100 account and D. Wight's $6,900 account were uncollectible. The company's accounts receivable were $719,000 before the accounts were written off. June 6, 2021 Wight paid the amount that had been written off on March 5. The company's accounts receivable were $674.000 prior to recording the cash receipt for Wight Calculate the carrying amount of the accounts receivable both before and after recording the cash receipt from Wight on June 6, 2021. Carrying amount before recovery Carrying amount after recovery $ $
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