A customer uses Home Depot credit card to purchase a new patio set with a sales price of $900 on May 1, 2021. Home Depot will record the sale on May 1, 2021 by: Debit: Card receivables Credit: Sales $900 $900 To record sale of merchandise on Home Depot credit card. The expense for credit losses is called Bad debts expense. Net credit sales for the year are $800,000 and bad debts are expected to be 2% of net