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WileyPLUS https://edugen wileyplus.com/edugen/student/mainf.uni 90% Qwileyplus PLUS I Help Contact Us I Log Out WileyPLUS Weygandt, Financial Accounting, 10e FINANCIAL ACCOUNTING (ACC 2000) Home Read, Study& Practice Gradebok ORIONDownloadable eTextbook Assignment Open Assignment CALCULATOR MESSAGE MY INSTRUCTOR FUILL SCREEN PRINTER VERSION BACK NEXT> ASSIGNMENT RESOURCES Brief Exercisc 8-5 At the end of 2019, Larkspur, Inc. has accounts receivable of $713,600 and an allowance for doubtful accounts of $56,000. On January 24, 2020, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a wnite-off of $7,500. On March 4, 2020, Larkspur, Inc, receives payment of $7,500 in full from Megan Gray Chapter9 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 E Debit Credit Link to question with available attempts. (To reverse write-off Review Results by (To record colection from Gray) Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 3 used SAVE POR LATER All Rights Reserved. A Division of Version 4.24.24 O Type here to search 11/4/2017 4

Explanation / Answer

Mar-04 Accounts receivable 7500         Allowance for doubtful accounts 7500 Mar-04 Cash 7500        Accounts receivable 7500

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