60.1K

Verified Solution

Link Copied!

At the end of 2024, Bramble Depot has accounts receivable of $131,000 and an allowance for doubtful accounts with a $4,500 credit balance. On January 18, 2025, the company's $1,000 receivable from JaxCo is deemed uncollectible and written off. a. Prepare the journal entry to record the write-off. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Accounts Receivable Allowance for Doubtful Accounts 1. Before the write-off $ LA 2. After the write-off Debit b. What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off? $ 131,000 131,000 130,000 Credit 4,5000

At the end of 2024, Bramble Depot has accounts receivable of $131,000 and an allowance for doubtful accounts with a $4,500 credit balance. On January 18,2025 , the company's $1,000 receivable from JaxCo is deemed uncollectible and written off. a. Prepare the journal entry to record the write-off. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) b. What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off? 1. Before the write-off 2. After the write-off

Answer & Explanation Solved by verified expert

See Answer