Question
At the end of 2020, Headland Company has accounts receivable of $848,000 and an allowance for doubtful accounts of $42,400. On January 16, 2021, Headland
At the end of 2020, Headland Company has accounts receivable of $848,000 and an allowance for doubtful accounts of $42,400. On January 16, 2021, Headland Company determined that its receivable from Ramirez Company of $6,360 will not be collected, and management authorized its write-off. (a) Correct answer iconYour answer is correct. Prepare the journal entry for Headland Company to write off the Ramirez receivable. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 16, 2021 Allowance for Doubtful Accounts 6,360 Accounts Receivable 6,360 eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Correct answer iconYour answer is correct. What is the net amount expected to be collected of Headland Companys accounts receivable before the write-off of the Ramirez receivable? Net amount expected to be collected $ 805,600 eTextbook and Media List of Accounts Attempts: 1 of 3 used (c) What is the net amount expected to be collected of Headland Companys accounts receivable after the write-off of the Ramirez receivable? Net amount expected to be collected $
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