During the current year, Giatras Electronics recorded credit sales of $70,000. Based on prior experience, it estimates a 4.0 per 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 $3,700 from a prior year was determined to be uncollectible and 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.) Transaction Net Sales Gross Profit Income from Operations