4. Sanders Inc. has net credit sales of $1,200,000 in 2020 and uses direct writeoff method for accounting uncollectible accounts. As of December 31, 2020, $550,000 of accounts receivable remain uncollected. On May 22, 2021, the credit manager of Sanders Inc. authorizes a writeoff of the $500 balance owed by Edward Said. What is the journal entry for this write off?