At the end of 2016, Blue Spruce Corp. has accounts receivable of $691,000 and an allowance for doubtful accounts of $27,210. On January 24, 2017, it is learned that the companys receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,006.

Use a tabular summary to record the write-off. Enter 2016 amounts as beginning balances. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Allow. For Doubtful Accts Stockholders' Equity Retained Earnings Rev. Accts. Rec. + Common Stock Exp. Beg. $ 691,000 $ Bal. Jan. 24 Adj. Bal