During the current year, Witz Electric, Incorporated, recorded credit sales of $770,000. Based on prior experience, it estimates a 3 percent bad debt rate on credit sales.

Required:

Prepare journal entries for each transaction:

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

1. On September 29 of the current year, an account receivable for $2,500 from March of the current year was determined to be uncollectible and was written off.
2. The appropriate bad debt expense adjustment was recorded for the current year.