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In - Class Question 3 At the end of 2 0 2 1 , Morley Co . has accounts receivable of $ 7 0 0
InClass Question
At the end of Morley Co has accounts receivable of $ and an allowance for doubtful accounts of $ On January it is learned that the company's receivable from Spears Inc. is not collectible and therefore management authorizes a writeoff of $
Instructions
a Prepare the journal entry to record the writeoff.
b What is the cash realizable value of the accounts receivable before the writeoff and after the writeoff?
tableDate,Account Titles,Ref.,Debit,Credit,
InClass Question
Assume the same information as InClass Question and that on March Morley Co receives payment of $ in full from Spears Inc. Prepare the journal entries to record this transaction.
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