Business, 24.04.2020 17:57, Jbullon119
At the end of 2019, Whispering Winds Corp. has accounts receivable of $765,600 and an allowance for doubtful accounts of $54,300. On January 24, 2020, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $6,200. On March 4, 2020, Whispering Winds Corp. receives payment of $6,200 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.)
Account Titles and Explanation
Debit
Credit
(To reverse write-off)
(To record collection from Gray)
Answers: 2
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At the end of 2019, Whispering Winds Corp. has accounts receivable of $765,600 and an allowance for...
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