Assume the same information as BE On March 4, 2018, Carpenter Co receives payment of $6,200 in full from Megan Gray In BE, At the end of 2017, Carpenter Co has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000 On January 24, 2018, the company learns that its receivab...

Assume the same information as BE. On March 4, 2018, Carpenter Co. receives payment of $6,200 in

Question:

Assume the same information as BE. On March 4, 2018, Carpenter Co. receives payment of $6,200 in full from Megan Gray.
In BE, At the end of 2017, Carpenter Co. has of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2018, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $6,200.
Prepare the journal entries to record this transaction.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...