A) Prepare general journal entries to record the following transactions for Elliott Consulting. (The company uses the income statement approach for recording bad debts expense.)

2020

Dec. 31 Recorded Bad Debts Expense, $ 2,010

2021

Jan. 9 Wrote off Summer's account as uncollectible, $435

Mar. 12 Wrote off Manny's account as uncollectible, $650

Jul. 8 Recovered $100 from Manny

Aug. 19 Wrote off Jared's account as uncollectible, $215

B) Prepare general journal entries to record the following transactions for Smith Company. (The company uses the balance sheet approach for recording bad debts expense.)

2021

Dec. 31 Recorded Bad Debts Expense, $900

2022

Jan. 3 Wrote off Jal's account as uncollectible, $260

Mar. 4 Wrote off Hall's account as uncollectible, $95

Jul. 5 Recovered $55 from Hall

Aug. 19 Wrote off M. Wilson's account as uncollectible, $50

Nov. 7 Recovered $45 from Jal