At the end of 2021 , Swifty Corporation has accounts receivable of $745,400 and an allowance for doubtful accounts of $44,400. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $7,400. On March 4, 2022, Swifty Corporation receives payment of $7,400 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)