At the end of 2021, concord corporation has accounts receivable of $704,700 and an allowance for doubtful accounts of $26,850. 1. 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. 2. on march 4, 2022, concord corporation receives payment of $4,384 in full from madonna inc.
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