At the end of 2021, Kingbird Co. has accounts receivable of $762,000 and an allowance for doubtful accounts of $22,520. 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 $4,398.
(a) Prepare the journal entry to record the write-off.
(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?

Which statement or statements are implied by equilibrium conditions of the loanable funds market? a firm borrowing in the loanable funds market invests those funds with a higher expected return than any firm that is not borrowing. investment projects which use borrowed funds are guaranteed to be profitable even after paying interest expenses. the quantity of savings is maximized, thus the quantity of investment is maximized. a loan is made at the minimum interest rate of all current borrowing.