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At the end of 2016, Sheridan Company has accounts receivable of $665,400and an allowance for doubtful accounts of $23,480.

1.On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415.2.On March 4, 2017, Sheridan Company receives payment of $4,415 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.)