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At the end of 2021, Oriole Company has accounts receivable of $739,500 and an allowance for doubtful accounts of $23,560. 1. On January 24, 2022,

At the end of 2021, Oriole Company has accounts receivable of $739,500 and an allowance for doubtful accounts of $23,560.

1. 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 $4,031.
2. On March 4, 2022, Oriole Company receives payment of $4,031 in full from Madonna Inc.

Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

1.

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

2.

Enter an account title to record recovery of accounts receivable

Enter a debit amount

Enter a credit amount

Enter an account title to record recovery of accounts receivable

Enter a debit amount

Enter a credit amount

(To record recovery of accounts receivable.)
Enter an account title to record collection of accounts receivable

Enter a debit amount

Enter a credit amount

Enter an account title to record collection of accounts receivable

Enter a debit amount

Enter a credit amount

(To record collection of accounts receivable.)

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