Furtastic manufactures imitation fur garments. On June $1,2024,$ Furtastic made a sale to Willet's Department Store under terms that require Willet to pay $$150,000$ to Furtastic on June $30,2024.$ In a separate transaction on June $15,2024,$ Furtastic purchased brand advertisingservices from Willet for $$12,000.$ The fair value of those advertising services is $$5,000.$Furtastic expects that $3\%$ of all sales will prove uncollectible.Required:Prepare the journal entry to record Furtastic's sale on June $1,2024\mathrm{.}2.$Prepare the journal entry to record Furtastic's purchase of advertising services from Willet on June $15,2024.$ Assume all of the advertising services are delivered on June$15,2024\mathrm{.}3.$Prepare the journal entry to record Furtastic's receipt of $$150,000$ from Willet on June$30,2024\mathrm{.}4.$How would Furtastic's expectation regarding uncollectible accounts affect its recognition of revenue from the sale to Willet's Department Store on June $1,2024?$Explain briefly.