Question
At the end of 2017, Splish Company has accounts receivable of $429,100 and an allowance for doubtful accounts of $20,400. On January 16, 2018, Splish
At the end of 2017, Splish Company has accounts receivable of $429,100 and an allowance for doubtful accounts of $20,400. On January 16, 2018, Splish Company determined that its receivable from Maximillan Company of $3,800 will not be collected, and management authorized its write-off.
Prepare the journal entry for Splish Company to write off the Maximillan receivable.
What is the net realizable value of Splish Companys accounts receivable before the write-off of the Maximillan receivable?
What is the net realizable value of Splish Companys accounts receivable after the write-off of the Maximillan receivable?
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