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((Please help, I have tried everything..!)) ((Thank you!)) At the end of 2024 , Blossom Co. has accounts receivable of $691,500 and an allowance for
((Please help, I have tried everything..!))
((Thank you!))
At the end of 2024 , Blossom Co. has accounts receivable of $691,500 and an allowance for doubtful accounts of $25,740. On January 24,2025 , it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,943. On March 4, 2025, Blossom Co. receives payment of $3,943 in full from Madonna Inc. Prepare the journal entries to record the March 4 transaction. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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