Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 15% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 June 12 June 13 June 16 June 19 June 20 Rashid's hard drive crashes and he sends it to DRS. After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,300. Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 15% educational discount and reducing the cost by $195 ( = $1,300 15%). DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today's date, offering a 4% discount for payment within 10 days. When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 20% of the data has not been recovered and he informs DRS. DRS reduces the amount Rashid owes by 20%. June 30 Rashid pays the amount owed. Required: 1. Record the necessary transaction(s) for Data Recovery Services on each date. 2. Show how net revenues would be presented in the income statement. 3. Calculate net revenues if Rashid had paid his bill on June 25. Required 1 Required 2 Required 3 Record the necessary transaction(s) for Data Recovery Services on each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Rashid's hard drive crashes and he sends it to DRS. Note: Enter debits before credits. Date June 10 General Journal Debit Credit 2 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,300. 3 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 15% educational discount and reducing the cost by $195 (= $1,300 15%). 4 5 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today's date, offering a 4% discount for payment within 10 days. When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 20% of the data has not been recovered and he informs DRS. 5 When Rashid receives the hard drive, he notices that DRS 6 did not successfully recover all data. Approximately 20% of the data has not been recovered and he informs DRS. DRS reduces the amount Rashid owes by 20%. 7 Rashid pays the amount owed. 5 When Rashid receives the hard drive, he notices that DRS 6 did not successfully recover all data. Approximately 20% of the data has not been recovered and he informs DRS. DRS reduces the amount Rashid owes by 20%. 7 Rashid pays the amount owed. Required 1 Required 2 Required 3 Show how net revenues would be presented in t DATA RECOVERY SERVICES Partial Income Statement Total service revenues Net service revenues Complete this question by entering your ansv Required 1 Required 2 Required 3 Calculate net revenues if Rashid had paid his bill or Net service revenues