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At the end of 2014 carpenter co has accounts receivable of

Question - At the end of 2014, Carpenter Co. has accounts receivable of $770,380 and an allowance for doubtful accounts of $73,400. On January 24, 2015, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $7,420. On March 4, 2015, Carpenter Co. receives payment of $7,420 in full from Megan Gray.

Prepare the journal entries to record this transaction.

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Accounting Basics: At the end of 2014 carpenter co has accounts receivable of

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