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At the end of 2022, Honey Co. has accounts receivable of $698,000 and an allowance for doubtful accounts of $27,500. On January 24, 2023, it
At the end of 2022, Honey Co. has accounts receivable of $698,000 and an allowance for doubtful accounts of $27,500. On January 24, 2023, it is learned that the companys receivable from Beehive Inc. is not collectible and therefore management authorizes a write-off of $3,929. 1. Prepare the journal entry to record the write-off.
2. What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
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