At the end of 2016, nash's trading post, llc has accounts receivable of $635,600 and an allowance for doubtful accounts of $23,140. 1. on january 24, 2017, it is learned that the company’s receivable from madonna inc. is not collectible and therefore management authorizes a write-off of $4,210. 2. on march 4, 2017, nash's trading post, llc receives payment of $4,210 in full from madonna inc.
required:
1. prepare the journal entry to record the write-off.
2. what is the cash realizable value of the accounts receivable before the write-off and after the write-off?
Answers: 3
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At the end of 2016, nash's trading post, llc has accounts receivable of $635,600 and an allowance fo...
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