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Question 2 of 8 0.33/1 OPTY Current Attempt in Progress Your answer is partially correct...

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Accounting

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Question 2 of 8 0.33/1 OPTY Current Attempt in Progress Your answer is partially correct At the end of 2021. Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480. 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 $4.415. On March 4, 2022, Sheridan Company receives payment of $4,415 in full from Madonna Inc. 1. 2. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Debit No. Account Titles and Explanation 1. Allowance for Doubtful Accounts Credit 4415 Accounts Recelvable 4415 2. (To record recovery of accounts receivable.) M (To record collection of accounts receivable.) e Textbook and Media List of Accounts Save for Later Attempts: 1 of 5 used Submit

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