During the current year, giatras electronics recorded credit sales of $680,000. based on prior experience, it estimates a 3.5 percent bad debt rate on credit sales.

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.