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Business, 07.12.2019 00:31 codycollier

Ivanhoe co. has accounts receivable of $740,700 and an allowance for doubtful accounts of $71,600. on january 24, 2021, the company learns that its receivable from megan gray is not collectible, and management authorizes a write-off of $6,300. on march 4, 2021, ivanhoe co. receives payment of $6,300 in full from megan gray.
prepare the journal entries to record this transaction. (credit account titles are automatically indented when amount is entered. do not indent manually.)

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Ivanhoe co. has accounts receivable of $740,700 and an allowance for doubtful accounts of $71,600. o...

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