Business, 20.04.2020 20:54, camosloppy3150

At the end of 2020, Concord Company has accounts receivable of $784,000 and an allowance for doubtful accounts of $39,200. On January 16, 2021, Concord Company determined that its receivable from Ramirez Company of $5,880 will not be collected, and management authorized its write-off.

Prepare the journal entry for Concord Company to write off the Ramirez receivable.

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At the end of 2020, Concord Company has accounts receivable of $784,000 and an allowance for doubtfu...