At the end of 2021, Skysong, Inc. has accounts receivable of $768,300 and an allowance for doubtful accounts of $26,300. 1. On January 24, 2022, it is learned that the companys receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,480. 2. On March 4, 2022, Skysong, Inc. receives payment of $4,480 in full from Madonna Inc. Prepare the journal entries to record this transaction

No.

Account Titles and Explanation

Debit

Credit

1.

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

2.

Enter an account title to record recovery of accounts receivable

Enter a debit amount

Enter a credit amount

Enter an account title to record recovery of accounts receivable

Enter a debit amount

Enter a credit amount

(To record recovery of accounts receivable.)

Enter an account title to record collection of accounts receivable

Enter a debit amount

Enter a credit amount

Enter an account title to record collection of accounts receivable

Enter a debit amount

Enter a credit amount

(To record collection of accounts receivable.)