At the end of 2022, Sandhill Co. has accounts receivable of $765,600 and an allowance for doubtful accounts of $54,300. 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. On March 4,2023, Sandhill Co receives payment of $6,200 in full from Megan Gray.

Prepare the journal entries to record the March 4,2023, transaction.