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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

In-Class Question 3
At the end of 2021, Morley Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. On January 24,2022, it is learned that the company's receivable from Spears Inc. is not collectible and therefore management authorizes a write-off of $4,300.
Instructions
(a) Prepare the journal entry to record the write-off.
(b) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?
\table[[,Date,Account Titles,Ref.,Debit,Credit,],[1,,,,1,,],[2,,,,2,,],[3,,,,3,,],[4,,,,4,,],[5,,,,6,,],[6,,,,,6,]]
In-Class Question 4
Assume the same information as In-Class Question 3 and that on March 4,2022, Morley Co. receives payment of $4,300 in full from Spears Inc. Prepare the journal entries to record this transaction.
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