Use a tabular summary to record the following transactions for Jarvis Co. (Omit recording cost of goods sold.)

a. On July 1, Jarvis Co. sold merchandise on account to Stacey Inc. for $23,000.

b. On July 8, Stacey Inc. returned $2,400 of July 1 merchandise to Jarvis Co.

c. On July 11, Stacey Inc. paid for the merchandise.

Record write-off and determine cash realizable value.