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At the end of 2016, Bonita Industries has accounts receivable of $738,200 and an allowance for doubtful accounts of $22,780. On January 24, 2017, it
At the end of 2016, Bonita Industries has accounts receivable of $738,200 and an allowance for doubtful accounts of $22,780. 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 $4,020. Use a tabular summary to record the write-off. Enter 2016 amounts as beginning balances. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Stockholders' Equity Retained Earnings Rev. . Accts. Rec. Allow. For Doubtful Accts - = + Common Stock + Exp. Beg. Bal. $ Jan. 24 Adj. Bal. e Textbook and Media What is the cash realizable value of the accounts receivable before the write-off and after the write-off? Before Write-Off After Write-Off Cash realizable value $ e Textbook and Media
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