At the end of 2020, Blue Company has accounts receivable of $1,024,000 and an allowance for doubtful accounts of $51,200. On January 16, 2021, Blue Company determined that its receivable from Ramirez Company of $7,680 will not be collected, and management authorized its write-off. (a) Prepare the journal entry for Blue Company to write off the xamirez receivable. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not Indent manually.) Date Jan. 16, 2021 Account Titles and Explanation eTextbook and Media Debit Credit