At the end of 2020, Ivanhoe Co. has an allowance for doubtful accounts of $36,000. On January 31, 2021, when it has acco
Posted: Tue Jul 05, 2022 11:23 am
At the end of 2020, Ivanhoe Co. has an allowance for doubtfulaccounts of $36,000. On January 31, 2021, when it has accountsreceivable of $560,000, Ivanhoe Co. learns that its $8,400receivable from Tokarik Inc. is not collectible. Managementauthorizes a write off. Record the write off. (Credit accounttitles are automatically indented when the amount is entered. Donot indent manually. If no entry is required, select "No Entry" forthe account titles and enter 0 for the amounts.) Date AccountTitles and Explanation Debit Credit Jan. 31 enter an account titleto record write off of accounts receivable on January 31 enter adebit amount enter a credit amount enter an account title to recordwrite off of accounts receivable on January 31 enter a debit amountenter a credit amount (To record write off of accountsreceivable.)