At the end of 2020, Martinez Corp. has accounts receivable of $2.65 million and an allowance for doubtful accounts of $126,500. On January 16, 2021, Martinez determined that its $18,400 receivable from Carla Vista Co. will not be collected, and management has authorized its write off. On January 31, 2021, Martinez received notification that the company will be receiving $0.15 for every $1.00 of accounts receivable relating to Wildhorse Co. The company had previously written off 100% of the amount due from Wildhorse ($52,500).

(a) Prepare the journal entry for Martinez Corp. to write off the Carla Vista receivable and any journal entry necessary to reflect the notice regarding Wildhorse Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) To write off the Carla Vista accounts: Account Titles and Explanation Debit Credit Allowance for Doubtful Accounts Accounts Receivable Wildhorse Co. reinstatement of partial accounts receivable for amounts previously written off and now determined to be collectible: Account Titles and Explanation Debit Credit Allowance for Doubtful Accounts What is the estimated net realizable value of Martinez's accounts receivable before and after the entries above? What is the book value of Martinez's accounts receivable before and after the entries above? Before Adjustments After Adjustments $ Net Realizable Value $ Book Value