Use the following information from Cobra Koi's Pond Supplies to answer the homework questions. Round all answers to the nearest whole dollar. Note that not all of the information may be required for every question.

Cobra Koi's Pond Supply Accounting Receivable Aging as of June 30, 2023

Current	1-90	91-180	181-360	361+	Total
250,000	300,000	160,000	88,000	45,000	843,000

Cobra Koi had total sales of $400,000 for the month of June.

As of May 31, Cobra Koi had a credit balance of $24,000 in their Allowance for Doubtful Accounts.

On June 15, one of Cobra Koi's customers, The Fish Net, inc., files for bankruptcy. It is probably that the Fish Net will not pay Cobra Koi. The Fish Net owe's Cobra Koi $70,000, including $30,000 that is 55 days past due, $20,000 that is 90 days past due and $20,000 that is 370 days past due.

Cobra Koi uses the Direct Write Off method.

Assuming no other customers have defaulted or been deemed unlikely to pay, how much should Cobra Koi charge to bad debt expense in June?

Prepare the journal entry to record the write off.

DR:

CR: