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

1. 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 $4,359.

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.)