At the end of 2022, Carpenter Co. has accounts receivable of $700,000 and an allowance for doubtful

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At the end of 2022, Carpenter Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2023, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $6,200.

a. Prepare the journal entry to record the write-off.

b. What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?

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