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Please answer problem #2, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! At the end of 2021, Oriole Company has accounts receivable of $739,500
Please answer problem #2, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!
At the end of 2021, Oriole Company has accounts receivable of $739,500 and an allowance for doubtful accounts of $23,560. 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 $4,031 On March 4, 2022, Oriole Company receives payment of $4,031 in full from Madonna Inc. 2. 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.) Step by Step Solution
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