During the current year, Giatras Electronics recorded credit sales of $720,000. Based on prior experience, it estimates a 3.5 percent bad debt rate on credit sales.

Required:

1. Prepare journal entries for each of the following transactions.

a. On October 28 of the current year, an account receivable for $2,100 from a prior year was determined to be uncollectible and was written off.

b. At year-end, the appropriate bad debt expense adjustment was recorded for the current year.

2. Complete the following table, indicating the amount and effect for each transaction.

Prepare journal entries for each of the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet On October 28 of the current year, an account receivable for $2,100 from a prior year was determined to be uncollectible and was written off. Note: Enter debits before credits. Journal entry worksheet At year-end, the appropriate bad debt expense adjustment was recorded for the current year. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Complete the following table, indicating the amount and effect for each transaction. (Indicate decreases with a minus sign.)