Question 4 (of 8) 4. value: 1.25 points E6-7 Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method LO6-2 During the current year, Adams Assembly, Inc., recorded credit sales of $890,000. Based on prior experience, it estimates a 1 percent bad debt rate on credit sales. Required: Prepare journal entries for each transaction: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. On September 29 of the current year, an account receivable for $3,000 from March of the current year was determined to be uncollectible and was written off b. The appropriate bad debt expense adjustment was recorded for the current year View transaction list Journal entry worksheet Record the entry to write-off the uncollectible account. Note: Enter debits before credits. Record entry View general journal Clear entry References Book & Resources General Journal Difficulty: 1 Easy E6-7 Recording Bad Debt Expense Estimates and Write Leaming Objective: 06-02 Estimate, report, and evaluate the effects of Offs Using the Percentage of Credit Sales Method LO6-2 uncollectible accounts recoivable (bad debts) on financial statements Check my work value: 1.25 points E6-7 Recording Bad Debt Expense Estimates and Write-Offs Using the Percentege of Credit Sales Method LO6-2 During the current year, Adams Assembly, Inc., rocorded credit sales of $880,000. Based on prior experience, t estimates a 1 percent bad debt rate on crodit sales. Required: Prepare journal entries for each transaction: (f no entry is required for a transaction/event, select "No journal entry required" In the first account field.) a. On September 29 of the current year, an account recelvable for $3,000 from March of the current year was determined to be uncollectible and was writen off b. The appropriate bad debt expense adjustment was recorded for the current year View transaction list Journal entry worksheet Record the entry for bad debt expense. Note: Enter debits before credits. b. Record entry View general journal Clear entry