The following transactions affecting the accounts receivable of Wonderland Corporation took place during the year ended January 31, 2002.

The following two balances were taken from the January 31. 2001. balance sheet.

The corporation provides for its net uncollectible account losses by crediting Allowance for Bad Debts for 1.5% of net credit sales for the fiscal period.
Instructions:
1 . Prepare the journal entries to record the transactions for the year ended January 31 , 2002.
2. Prepare the adjusting journal entr\' for estimated uncollectible accoimts on Januan, 31 , 2002.

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Sales (cash and credit) $591,050 Cash received from credit customers, all of whom took advantage of the discount feature of the corporation's credit terms 4/10, n/30 Cash received from cash customers 303,800 210,270 Accounts receivable written off as worthless 5,250 Credit memoranda issued to credit customers for sales returns and allowances 63,800 Cash refunds given to cash customers for sales returns and allowances Recoveries on accounts receivable written off as uncollectible 13,318 in prior periods (not included in cash amount stated above) 8,290