Brief Exercise 8-7 At the end of 2017, Foress Corp. has accounts receivable of $472,300...
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Brief Exercise 8-7 At the end of 2017, Foress Corp. has accounts receivable of $472,300 and an allowance for doubtful accounts of $26,400. On January 24, 2018, Foress learns that its $10,800 receivable from Hutley Inc. is not collectible. Management authorizes a write off. Your answer is correct. Prepare the journal entry to record the write off. (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 titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 24 Allowance for Doubtful Accounts 10800 Accounts Receivable 10800 SHOW LIST OF ACCOUNTS LINK TO TEXT x Your answer is incorrect. Try again. What is the carrying amount of the accounts receivable (1) before the write off and (2) after the write off? Net realizable value SHOW LIST OF ACCOUNTS LINK TO TEXT x Your answer is incorrect. Try again. What is the carrying amount of the accounts receivable (1) before the write off and (2) after the write off? Net realizable value (1) Before write off $:.... (2) After write off SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 2 of 3 used
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