Sloan Company, which uses an Allowance for Doubtful Accounts, had the following transactions in 2021 and...

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Sloan Company, which uses an Allowance for Doubtful Accounts, had the following transactions in 2021 and 2022: 2021 Dec. 31 Recorded Bad Debt Expense of $15,500 2022 Apr. 1 Wrote off J. Salazar account of $3,500 as uncollectible. Jun. 4 Wrote off T. Savvy account of $4,000 as uncollectible. Aug, 10 Recovered $1,500 from T Savvy. Required a Journalize the transactions using the income statement approach to estimate bad debts. b. Journalize how Sloan Company would record the T Savvy bad debt situation if the direct write-off method had been used. Assume the bad debt was recovered on August 10, 2023. Sloan Company, which uses an Allowance for Doubtful Accounts, had the following transactions in 2021 and 2022: 2021 Dec. 31 Recorded Bad Debt Expense of $15,500 2022 Apr. 1 Wrote off J. Salazar account of $3,500 as uncollectible. Jun. 4 Wrote off T. Savvy account of $4,000 as uncollectible. Aug, 10 Recovered $1,500 from T Savvy. Required a Journalize the transactions using the income statement approach to estimate bad debts. b. Journalize how Sloan Company would record the T Savvy bad debt situation if the direct write-off method had been used. Assume the bad debt was recovered on August 10, 2023.

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