Current Attempt in Progress At the end of 2021, Swifty Corporation has accounts receivable of $738.100 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 $7,000. (a) Your answer is correct. Prepare the journal entry to record the write-off. (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.) Account Titles and Explanation Allowance for Doubtful Accounts Accounts Receivable Debit 7,000 Credit 7,000