Prepare the journal entries needed for the following transactions. Be sure to show all work. A) Feb 2, 2020 - The Accounts Receivable Department at the company has been unable to get a hold of Mr. Welch. He appears to have changed phone numbers, mailing address, and no one can seem to track him down. He has an outstanding balance of $11,000. B) July 5, 2020 - Your Accounts Receivable Department received a tip about Mr. Welch's location. They find him and confront him regarding his outstanding balance. Mr. Welch begrudgingly acknowledges that he still owes the money, but only has $2,000 in funds. You agree to accept the $2,000 payment and will not pursue the remaining $9,000.