question at the end of 2013 morley co has accounts receivable of 722 900 and an allo 4305420

question at the end of 2013 morley co has accounts receivable of 722 900 and an allo 4305420

Question

At the end of 2013, Morley Co. has accounts receivable of$722,900 and an allowance for doubtful accounts of $24,830. 1. OnJanuary 24, 2014, it is learned that the company’s receivable fromSpears Inc. is not collectible and therefore management authorizesa write-off of $5,260. 2. On March 4, 2014, Morley Co. receivespayment of $5,260 in full from Spears Inc. Prepare the journalentries to record this transaction. (Credit account titles areautomatically indented when amount is entered. Do not indentmanually.)

 

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