At the end of 2016, Marigold Corp. has accounts receivable of $718,400and an allowance for doubtful accounts of $22,800.

1.On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,359.2.On March 4, 2017, Marigold Corp. receives payment of $4,359 in full from Madonna Inc.

Prepare the journal entries to record this transaction.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit Credit

1.

2.

(To record recovery of accounts receivable.)

(To record collection of accounts receivable.)