Help During the current year, Glatras Electronics recorded credit sales of $710,000. Based on prior experience, it estimates a 4.5 percent bad debt rate on credit sales. Required: 1. Prepare journal...

Extracted text: Help During the current year, Glatras Electronics recorded credit sales of $710,000. Based on prior experience, it estimates a 4.5 percent bad debt rate on credit sales. Required: 1. Prepare journal entries for each of the following transactions. a. On October 28 of the current year, an account receivable for $2,800 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. 2. Complete the following table, indicating the amount and effect for each transaction. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following table, indicating the amount and effect for each transaction. (Indicate decreases witha minus sign.) Income from Transaction Net Sales Gross Profit Operations a. b. < required="">