Q.4. [Question Paper] Question 4: Sales Revenue and Receivable 15% = (9% +6%) - it contains 1 page ONLY Part a) 9% During the year ended 31 December 2019, Goodyear Electronics recorded credit sales of $680,000. Based on prior experience of the Sales Director, it was estimated that a 3.5% bad debt rate on credit sales should be used. Additional information: On 28 October 2019, an account receivable for $2,800 from a prior year was determined to be uncollectible and was written off; and At-year-end, i.e., 31 December 2019, it is required to adjust the bad debt expense appropriately for financial reporting purposes. Required: prepare the journal entries for each of the above transactions. Narrative is not required. Account ledger Amount $ Indicate "Dr" for debit and "Cr" for credit ii. iii. v. vi. On 28 October 2019: i. iv. Year-end adjusting entries: vii. x. viii. xi. ix. xii. Part b) 6% Based on the facts from Part a) above, Required: complete the following table, indicating the amount and effect ("+" for increase, "-" for decrease, and NE for no effect) of each transaction above. Transaction Net Sales Gross Profit Income from Operations On 28 October 2019: i. Year-end adjusting entries: iv. ii. v. iii. vi