Following are the monthly sales, collections and bad debt write-offs for Midwest Distributing. Inc. for its year ending June, 30 2017. Assume all sales are credit sales Cash Month July August Collections Credit Sales S 95.000 $105,000 98,000 101,000 120,000 157,000 180,000 75,000 83,000 85,000 97,000 95,000 85,000 $1,281,000 Write-Offs S3.500 101,100 100,500 98,000 110,000 156,500 130,000 105,000 91,000 90,000 87,500 108,000 $1,272,600 epteb ember 3,000 October November December anuary February March 2,500 4,500 5,000 Ma 1,000 une Total $ 19,500 Midwest's controller prepared the following aging of accounts receivable as of June 30, 2017 ccount Classification Current 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Balance Percent Uncollectable $50,000 47,000 18,000 9,000 5,000 190 5% 10% 20% 25% The allowance for doubtful accounts balance on June 30, 2016 was $8,950 Reauired: 1. Prepare summary journal entries to record credit sales, collections, the provision for bad debts and write offs using the percentage of sales method. Assume that over the past three years 1.75% percent of credit sales have proven to be uncollectable 2. Midwest uses an aging of accounts receivable to determine the final numbers for the financial statements. Prepare any adjusting journal entries necessary at 6/30/17