During the current year, Giatras Electronics recorded credit sales of $590,000. 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 $3,400 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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.) a. On October 28 of the current year, an account receivable for $3,400 from a prior year was determined to be uncolectible and was written off. b. At year-end, the appropriate bad debt expense adjustment was recorded for the current year Show less View transaction list View transaction list Journal entry worksheet On October 28 of the current year, an account receivable for $3,400 from a prior year was determined to be uncollectible and was written off. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required 2 Required 1 During the current year, Giatras Electronics recorded credit sales of $590,000. Based on prior experience, it estimates a 3.5 percen 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 $3,400 from a prior year was determined to be uncollectible and wa. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following table, indicating the amount and effect for each transaction. (Indicate decreases with a minus sign.) Income from Operations Transaction Net Sales Gross Profit b