At the end of 2016, Skysong, Inc. has accounts receivable of $768,300 and an allowance for doubtful accounts of $26,300. On January 24, 2017, it is learned that the companys receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,480.

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

Allow. For

Retained Earnings

Accts. Rec.

-

Doubtful Accts

=

+

Common Stock

+

Rev.

-

Exp.

Beg. Bal.

$

$

$

$

$

Jan. 24

Adj. Bal.

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		$		$