Transcribed Image Text: During the current year, Witz Electric, Inc., recorded credit sales of $800,000. Based on prior experience, it estimates a 2 percent bad debt rate on credit sales.

Transcribed Image Text: During the current year, Witz Electric, Inc., recorded credit sales of $800,000. Based on prior experience, it estimates a 2 percent bad
debt rate on credit sales.
Required:
Prepare journal entries for each transaction: (lf 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
2
Record the entry to write-off the uncollectible account
Note: Enter debits before credits.
Debit
Transaction
General Journal
Credit
а.
A

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