Alpha had the following transactions in June 2022. Alpha uses a perpetual inventory system and its cost of goods sold is 40% of the selling price and has an estimated return rate of 10%. 1. Sales on account for June 2022 were $120,000. 2. $168,000 was received as payments on account during the month. This included $7,500 from Beta Store Inc., which had previously been written off. 3. Gamma Inc, one of our customers, contacted our credit department because it was having difficulty making payments on its account. On June 15, they signed a 5%, 2-month note for the balance in their account ($24,000). 4. Based on a review of the aged accounts receivable, the accountant estimates that $16,000 will be uncollectible. The balance in the Allowance for Doubtful Accounts at May 31, 2022 was a credit of $5,000. Instructions Prepare entries for the above transactions and any month end adjustments and accruals required.