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6 . 1 9 Company K had an account receivable on an installment sale in the amount of $ 1 0 , 0 0 0

6.19 Company K had an account receivable on an installment sale in the amount of $10,000. At the time the related deferred gross profit was $4,000, the customer defaulted and the merchandise was repossessed, with a fair market value of $3,000. Prepare the required journal entry.
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