Lafayette Corporation is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2021 financial statements contain the following information ($ in millions):

	2021	2020
Balance sheets:
Accounts receivable, net	$3,842	$3,406
Income statements:
Sales revenue	$34,815	$32,841

A note disclosed that the allowance for uncollectible accounts had a balance of $22 million and $46 million at the end of 2021 and 2020, respectively. Bad debt expense for 2021 was $43 million. Assume that all sales are made on a credit basis.

1. Record the journal entry to recognize Bad Debt Expense for 2021.
2. 2. Record a summary journal entry to record collections of all receivables for 2021.