q16t

At the end of 2023, Martinez Corp, has accounts receivable of $2.65 million and an allowance for expected credit losses of $126,500. On January 16, 2024, Martinez determined that its $18,400 recelvable from Carla Vista Co. will not be collected, and management has authorized its write-oft. On January 31,2024 , Martinez received notification that the company will receive $0.15 for every $1.00 of accounts receivable relating to Wildhorse Co. The company had previously written off 100% of the amount due from Wildhorse ($52,500) (a) Prepare the journal entry for Martinez to write-off the Carla Vista receivable and any journal entry needed to reflect the notice regarding Wildhorse. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts. List all debit entries before credit entries.) Carla Vista Co. accounts receivable write-off: Carta Vista Co, accounts recelvable write-olt Widhorse Co. reinstatement of partial accounts receivabie for amounts previously written off and now determined to be collectible