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At the end of 2021, Marin Co. has accounts receivable of $896,000 and an allowance for doubtful accounts of $32,000. On January 24, 2022, it

At the end of 2021, Marin Co. has accounts receivable of $896,000 and an allowance for doubtful accounts of $32,000. On January 24, 2022, it is learned that the companys receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $5,504.

(a)

Use a tabular summary to record the write-off. Enter 2021 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

Accts. Rec.

-

Allow. For Doubtful Accts

=

+

Common Stock

+

Rev.

-

Exp.

Beg. Bal.

$enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount

Jan. 24

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Adj. Bal.

enter the adjusted balance enter the adjusted balance enter the adjusted balance enter the adjusted balance enter the adjusted balance

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