List of Accounts

Assistance Used

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation-Equipment
• Allowance for Doubtful Accounts
• Bad Debts Expense
• Cash
• Common Stock
• Cost of Goods Sold
• Dividends
• Income Tax Expense
• Income Taxes Payable
• Interest Receivable
• Interest Revenue
• Inventory
• No Entry
• Notes Receivable
• Other Operating Expenses
• Other Receivables
• Retained Earnings
• Sales Discounts
• Sales Returns and Allowances
• Sales Revenue
• Service Charge Expense
• Supplies
• Supplies Expense

Current Attempt in Progress At the end of 2021, Safer Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. 1. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,300. 2. On March 4, 2022, Safer Co. receives payment of $4,300 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. 2. (To record recovery of accounts receivable.) (To record collection of accounts receivable.)