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At the end of 2009, Tatum Co has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2010, it is learned that the company's receivable from Novinger Inc. is not collectible and therefore management authorizes a write-off of $2000.a) Prepare the journal entry to record the write-offb) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write off?
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On December 31 year 1 Todd Corporation issued 500 of its 10% $1,000 bonds at 105. Todd Corporation uses IFRS. The bonds were issued through an underwriter to whom Todd paid bond issue costs of $15,000. On December 31 Year 1 balance sheet Todd shou..
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