At The End Of 2021, Sage Hill Co. Has Accounts Receivable Of $704,700 And An Allowance For Doubtful Accounts Of $26,850. On January 24, 2022, It Is Learned That The Company’s Receivable From Madonna Inc. Is Not Collectible And Therefore Management Authorizes A Write-off Of $4,384. (a) Prepare The Journal Entry To Record The Write-off. (Credit Account Titles Are Automatically Indented When Amount Is Entered. Do Not Indent Manually.) Account Titles And Explanation Debit Credit Enter An Account Title Enter A Debit Amount Enter A Credit Amount Enter An Account Title Enter A Debit Amount Enter A Credit Amount (b) What Is The Cash Realizable Value Of The Accounts Receivable Before The Write-off And After The Write-off? Before Write-Off After Write-Off Cash Realizable Value $Enter A Dollar Amount $Enter A Dollar Amount

At the end of 2021, Sage Hill Co. has accounts receivable of $704,700 and an allowance for doubtful accounts of $26,850. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,384. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount (b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off? Before Write-Off After Write-Off Cash realizable value $Enter a dollar amount $Enter a dollar amount

- November 14, 2022 - Edwin Tunner

At the end of 2021, Sage Hill Co. has accounts receivable of $704,700 and an allowance for doubtful accounts of $26,850. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,384.

(a)

Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Enter an account title	Enter a debit amount	Enter a credit amount
Enter an account title	Enter a debit amount	Enter a credit amount

(b)

What is the cash realizable value of the accounts receivable before the write-off and after the write-off?

		Before Write-Off		After Write-Off
Cash realizable value		$Enter a dollar amount		$Enter a dollar amount

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