At the end of 2020, Macaron Corp. has accounts receivable of $432,700 and an allowance for doubtful accounts of $30,900.

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At The End Of 2020 Macaron Corp Has Accounts Receivable Of 432 700 And An Allowance For Doubtful Accounts Of 30 900 1 (87.54 KiB) Viewed 11 times

At the end of 2020, Macaron Corp. has accounts receivable of $432,700 and an allowance for doubtful accounts of $30,900. On January 24, 2021, Macaron learns that its $11,300 receivable from Hutley Inc. is not collectible. Management authorizes a write off. But on March 4, 2021, Macaron Corp. receives payment in full of $11,300 from Hutley Inc. after the write off. Prepare the required journal entries to record this transaction. (List all debit entries before credit entries. 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 Mar. 4 Allowance for Doubtful Accounts 11300 Accounts Receivable (To reverse write off of account receivable) Accounts Receivable 11300 Allowance for Doubtful Accounts (To record collection of account receivable) Mar. 4 11300 11300