During the current year, Sun Electronics, Incorporated, recorded credit sales of $760,000 Based on prior experience, it estimates a 1 percent bad debt rate on credit sales On November 13 of the current year, an account receivable for $430 from a prior year was determined to be uncollectible and was written off At year end, the appropriate bad debt expense adjustment was recorded for the current year Required Indicate the effects of the transactions in the following table Indicate the accounts affected and enter decreases to account categories with a minus sign During the current year, Sun Electronics, Incorporated, recorded credit sales of $760,000 Based on prior experience, it estimates a 1 percent bad debt rate on credit sales a On November 13 of the current year, an account receivable for $430 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 Required Indicate the effects of the transactions in the following table Indicate the accounts affected and enter decreases to account categories with a minus sign

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During the current year, Sun Electronics, Incorporated, recorded credit sales of $760,000. Based on prior experience, it estimates a 1 percent bad debt rate on

During the current year, Sun Electronics, Incorporated, recorded credit sales of $760,000. Based on prior experience, it estimates a 1 percent bad debt rate on credit sales.

On November 13 of the current year, an account receivable for $430 from a prior year was determined to be uncollectible and was written off.
At year-end, the appropriate bad debt expense adjustment was recorded for the current year.

Required:

Indicate the effects of the transactions in the following table. Indicate the accounts affected and enter decreases to account categories with a minus sign. image text in transcribed

During the current year, Sun Electronics, Incorporated, recorded credit sales of $760,000. Based on prior experience, it estimates a 1 percent bad debt rate on credit sales. a. On November 13 of the current year, an account receivable for $430 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. Required: Indicate the effects of the transactions in the following table. Indicate the accounts affected and enter decreases to account categories with a minus sign