At the end of 2020, Monty Corp. has accounts receivable of $2.95 million and an allowance for doubtful accounts of $132,000. On January 16, 2021, Monty determined that its $24,400 receivable from Sandhill Co. will not be collected, and management has authorized its write off. On January 31, 2021, Monty received notification that the company will be recelving $0.20 for every $1.00 of accounts receivable relating to Carla Vista Co. The company had previously written off 100% of the amount due from Carla Vista ($56,000). Your answer is correct. Prepare the journal entry for Monty Corp. to write off the Sandhill receivable and any journal entry necessary to reflect the notice regarding Carla Vista 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 Sandhill accounts: Account Titles and Explanation Debit Credit Allowance for Doubtful Acc 24400 Accounts Receivable 24400 Carla Vista Co, reinstatement of partial accounts receivable for amounts previously written off and now determined to be collectible: Account Titles and Explanation Debit Credit Accounts Receivable 11200 Allowance for Doubtful 11200 x Your answer is incorrect. Try again. What is the estimated net realizable value of Monty's accounts receivable before and after the entries above? What is the book value of Monty's accounts receivable before and after the entries above? Before Adjustments After Adjustments Net Realizable Value Book Value