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Exercise 7-08 (Part Level Submission) At the end of 2020, Sage Company has accounts receivable of $928,000 and an allowance for doubtful accounts of $4 receivable from Ramirez Company of $6,960 will not be collected, and management authorized its write-off. (a) Prepare the journal entry for Sage Company to write off the Ramirez receivable. (If no entry is required, select "No Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 16, 2021 Click if you would like to Show Work for this question: Open Show Work vable of $928,000 and an allowance for doubtful accounts of $46,400. On January 16, 2021, Sage Company determined that its e collected, and management authorized its write-off. off the Ramirez receivable. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. when the amount is entered. Do not indent manually.) Debit Credit Jestion: Open Show Work