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Furtastic manufactures imitation fur garments. On June 1, 2018, Furtastic made a sale to Willetts Department Store under terms that require Willett to pay $240,000

Furtastic manufactures imitation fur garments. On June 1, 2018, Furtastic made a sale to Willetts Department Store under terms that require Willett to pay $240,000 to Furtastic on June 30, 2018. In a separate transaction on June 15, 2018, Furtastic purchased brand advertising services from Willett for $30,000. The fair value of those advertising services is $14,000. Furtastic expects that 4% of all sales will prove uncollectible. Required: 1. to 3. Prepare the journal entries to record the transactions above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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