Current Attempt in Progress At the end of 2020, Crane Company has accounts receivable of $976,000 and an allowance for doubtful accounts of $48,800. On January 16, 2021, Crane Company determined that its receivable from Ramirez Company of $7,320 will not be collected, and management authorized its write-off. Prepare the journal entry for Crane Company to write off the Ramirez receivable. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Debit Credit Account Titles and Explanation Date Jan. 16 2021