At the end of 2021, Metlock Co. has accounts receivable of $718,400 and an allowance for doubtful accounts of $22,800. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,359.

(a)

Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Enter an account title	Enter a debit amount	Enter a credit amount
Enter an account title	Enter a debit amount	Enter a credit amount

(b)

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		$Enter a dollar amount		$Enter a dollar amount