Assignment 4 - 19.Jul.2020 Newman stores had the following balance extracted from its Feb.28 balance sheet Account receivable $22,000 Dr Allowance for doubtful account 8,000 Cr The following transactions occurred during march. 1. On March 1, Newman stores Sold merchandise on account to Primark Company for $6,500, terms 3/10. n/30. 2. On March 5, Primark Company returned merchandise worth $500 to Newman stores. 3. On March 11, Newman collected the amount due from Primark Company from the March 1 sale. 4. On March 15, Newman stores sold merchandise for $650 in its retail outlet. The customer (ahmad) used his Newman credit card. 5. On march 17, The customer ( ahmad) paid $550 of the balance. 6. On March.20, Newman stores decided that $7,000 of account receivable from previous periods will be uncollectable (Assume the company uses the allowance method). 7. On March 31, Newman stores added 1.5% monthly interest to the customer's credit card balance. Required: A. Prepare journal entries for the transactions above in Newman store books. B. Show the statement of financial position presentation of accounts receivable on March 31. (what is the amount)