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valo 2.00 points E6-9 Determining Financial Statement Effects of Bad Debts Using the Percentage of Credit Sales Method LO6-2 Dunng the current year. Sun Electronics Incorporated, recorded credit sales of $790,000. Based on prior experience, estimates a 3 percent bad debt rate on credit sales On November 13 of the current year, an account receivable for $370 from a prior year was determined to be uncollectible and was written off b. Al year-end, the appropriate bad debt expense adjustment was recorded for the current year Required: Show the effects of the above transactions on the following categories: Assets, Liabilities, and Stockholders' Equity. Use for increases and for decreases and indicate the accounts and and the amount Transaction Lates Stockholders' E b References Book & Resources Accounting Equation Dolly tant E6-Determining Financial Statement Effects of Bad Oents Using the Percentage of Credit Sales Method LOG