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Prepare the journal entries to record this transaction

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Question - At the end of 2016, Wildhorse Co. has accounts receivable of $690,100 and an allowance for doubtful accounts of $25,090.

On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $3,913.2.On March 4, 2017, Wildhorse Co. receives payment of $3,913 in full from Madonna Inc.

Prepare the journal entries to record this transaction.

Reference no: EM131577583

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