Business, 27.01.2021 19:10 plssshelp

BE8-3 At the end of 2011, Tatham Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. On January 24, 2012, it is learned that the company’s receivable from Nardin Inc. is not collectible and therefore management authorizes a write-off of $4,300. (a) Prepare the journal entry to record the write-off.
(b) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?

BE8-4 Assume the same information as BE8-3 and that on March 4, 2012, Tatham Co. receives payment of $4,300 in full from Nardin Inc. Prepare the journal entries to record this transaction.
BE8-5 Lynch Co. uses the percentage of receivables basis to record bad debts expense and concludes that 2% of accounts receivable will become uncollectible. Accounts receivable are $400,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,800.
(a) Prepare the adjusting journal entry to record bad debts expense for the year.
(b) If the allowance for doubtful accounts had a debit balance of $900 instead of a credit balance of $2,800, prepare the adjusting journal entry for bad debts expense.

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BE8-3 At the end of 2011, Tatham Co. has accounts receivable of $700,000 and an allowance for doubtf...

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