PLEASE SEE QUESTION #2. Income from Operations (Line B) field needs to be NUMERICAL (highlighted in yellow).

During the current year, Giatras Electronics recorded credit sales of $630,000. Based on prior experience, it estimates a 3.5 percent bad debt rate on credit sales. Required: 1. Prepare joumal entries for each of the folloving transactions. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) a. On October 28 of the current year, an account receivable for $3,500 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. View transaction list View journal entry worksheet General Journal No Transaction Debit Credit Allowance for doubtful accounts 3,500 1. a. Accounts receivable 3,500 Bad debt expense 2 b. 22,050 Allowance for doubtful accounts 22,050 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 C 0 h C