At the end of 2021, Kingbird Co. has accounts receivable of $691,500 and an allowance for doubtful accounts of $25,740. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,943.   (a)Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)   Account Titles and Explanation                                                   Debit                                 Credit  Enter an account title  Enter a debit amount        Enter a credit amount Enter an account title  Enter a debit amount        Enter a credit amount   (b)What is the cash realizable value of the accounts receivable before the write-off and after the write-off?   Before Write-Off   After Write-Off Cash realizable value   $Enter a dollar amount    $Enter a dollar amount

18.   Tangier Company had a January 1, 2022, balance in Allowance for Doubtful Accounts of $7,000 Cr. The following events required journal entries during 2022:             Apr. 15   Diya’s account receivable of $5,700 was deemed uncollectible.             July 1    Nitosa paid the full amount of her previously written-off account receivable. The receivable of $2,300 had been written off in 2021.             Dec. 31   Bad debts expense was estimated to be 2.0 percent of net credit sales, which had amounted to $375,000.         What amount of Allowance for Doubtful Accounts should appear in the December 31, 2022 balance sheet?         a. $6,500         b. $11,100         c. $22,500         d. $17,900 e. None of the above.   19.   Nguyen Company had $250,000 of Accounts Receivable and a $7,500 credit balance in its Allowance for Doubtful Accounts account just prior to writing off a $2,000 uncollectible account of a customer. After the write-off, the carrying amount (NRV-Net Realizable…

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On December 31, 2020, Hoosier Inc. establishes an allowance for doubtful accounts of 3% of its accounts receivable balance of $180,000. Hoosier Inc. decides on March 15, 2021, not to pursue collection of Smith’s $1,000 account. The likelihood of collection does not support further collection efforts. What is the net realizable value (NRV) of accounts receivable before and after the write-off of the Smith account?