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Help please Thanks FULL SCREEN PRINTER VERSION BACK NEXT At the end of 2017, Cato Corp. has accounts receivable of $482,100 and an allowance for
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FULL SCREEN PRINTER VERSION BACK NEXT At the end of 2017, Cato Corp. has accounts receivable of $482,100 and an allowance for doubtful accounts of $30,700. On January 24, 2018, Cato learns that its $11,100 receivable from Hutley Inc. is not collectible. Management authorizes a write off. Your answer is correct. Prepare the journal entry to record the write off. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 24 Allowance for Doubtful Accounts 11,100 Accounts Receivable T 11,100 SHOW LIST OF ACCOUNTS LINK TO TEXT |x Your answer is incorrect. Try again. What is the carrying amount of the accounts receivable (1) before the write off and (2) after the write off? Net realizable value (1) Before write off 12 After writo offStep by Step Solution
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