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At the end of 2017, Penny Worth Corp. has accounts receivable of $464,100 and an allowance for doubtful accounts of $29,200. On January 24, 2018,
At the end of 2017, Penny Worth Corp. has accounts receivable of $464,100 and an allowance for doubtful accounts of $29,200. On January 24, 2018, Penny Worth learns that its $10,900 receivable from Hutley Inc. is not collectible. Management authorizes a write off. Prepare the journal entry to record the write off. (Credit account titles are automatically indented when th d the write off. (Credit account tities are automatically indented when the amount is entered. Do not indent m. required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 24
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