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Griswold's began operations in January, selling inexpensive sunglasses to large retailers like Walgreens and other smaller stores. Assume the following transactions occurred during its first

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Griswold's began operations in January, selling inexpensive sunglasses to large retailers like Walgreens and other smaller stores. Assume the following transactions occurred during its first six months of Sold merchandise to Walgreens for $17,000; the cost of these goods to Griswold's was $9,300. Received payment in full from Walgreens. Sold merchandise to Bravis Pharmaco on account for $2,700; the cost of these goods to Griswold's was $1,250 Sold merchandise to Tony's Pharmacy on account for $7,700. The cost to Griswold's was $4.250 Sold merchandise to Anjuli Stores on account for $1,700; the cost to Griswold's was $1,050 Received $6,350 on account from Tony's Pharmacy. January 1 February 12 March 1 April 1 May 1 June 17 Required 1. Complete the following aged listing of customer accounts at June 30. Unpaid Since June May April March Total Balance One Month) (Two Months) (Three Months) (Greater than Three 1,700 1,700 Anjuli Stores Bravis Pharmaco Tony's Pharmacy 2,700 2,700 Total 2. Estimate the Allowance for Doubtful Accounts required at June 30 assuming the following uncollectible rates: one month, 2 percent; two months, 6 percent: three months, 20 percent; more than three months, 35 percent. One Month

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