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  3. - / 10 e at the end of 2021, kingbird, inc. has ac

- / 10 E At the end of 2021, Kingbird, Inc. has accounts receivable of...

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Accounting

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- / 10 E At the end of 2021, Kingbird, Inc. has accounts receivable of $805,000 and an allowance for doubtful accounts of $31,600. 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 $5,600. On March 4, 2022, Kingbird, Inc. receives payment of $5,600 in full from Madonna Inc. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit Allowance for Doubtful Accounts Accounts Receivable (To reverse write-off) Accounts Receivable Allowance for Doubtful Accounts (To record collection from Madonna)

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