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Prepare the journal entries to record this transaction

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At the end of 2017, Carpenter Co. has accounts receivable of $745,400 and an allowance for doubtful accounts of $61,900. On January 24, 2018, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $7,400. On March 4, 2018, Carpenter Co. receives payment of $7,400 in full from Megan Gray. Prepare the journal entries to record this transaction.

Reference no: EM131211616

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Allowance for doubtful accounts : At the end of 2017, Carpenter Co. has accounts receivable of $745,400 and an allowance for doubtful accounts of $61,900. On January 24, 2018, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write..

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