At December 31, 2021, Wynne Company reported Accounts Receivable of $45,000 and Allowance for Doubtful Accounts of $3,500. On January 7, 2022, Brown Enterprises declares bankruptcy and it is determined that the receivable of $1,200 from Brown is not collectible. What is the cash realizable value of Accounts Receivable at December 31, 2021? Cash realizable value eTextbook and Media List of Accounts $ What entry would Wynne make to write off the Brown account? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts What is the cash realizable value of Accounts Receivable after the Brown account is written off? Cash realizable value $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, 2021, Wynne Company reported Accounts Receivable of $45,000 and Allowance for Doubtful Accounts of $3,500.
On January 7, 2022, Brown Enterprises declares bankruptcy and it is determined that the receivable of $1,200 from Brown is not
collectible.
What is the cash realizable value of Accounts Receivable at December 31, 2021?
Cash realizable value
eTextbook and Media
List of Accounts
$
What entry would Wynne make to write off the Brown account? (Credit account titles are automatically indented when the amount is
entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
eTextbook and Media
List of Accounts
What is the cash realizable value of Accounts Receivable after the Brown account is written off?
Cash realizable value
$
Transcribed Image Text:At December 31, 2021, Wynne Company reported Accounts Receivable of $45,000 and Allowance for Doubtful Accounts of $3,500. On January 7, 2022, Brown Enterprises declares bankruptcy and it is determined that the receivable of $1,200 from Brown is not collectible. What is the cash realizable value of Accounts Receivable at December 31, 2021? Cash realizable value eTextbook and Media List of Accounts $ What entry would Wynne make to write off the Brown account? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts What is the cash realizable value of Accounts Receivable after the Brown account is written off? Cash realizable value $
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