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During the current year, Sun Electronics, Incorporated, recorded credit sales of $5,000,000. Based on prior experience, estimates = 2 percent bad debt cute on credit

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During the current year, Sun Electronics, Incorporated, recorded credit sales of $5,000,000. Based on prior experience, estimates = 2 percent bad debt cute on credit sales a On November 13 of the current year, an account receivable for $98.000 from a prior year was determined to be collectible and was written off b. At year end the appropriate bad debt expense adjustment was recorded for the current year Required: Show the effects of the above transactions on the following categories: Assets, Liabilities, and Stockholders' Equity Use for increases and for decreases and indicate the accounts affected and the amount Transaction Asset Liabiti Stockholders

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