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Griswold's, Incorporated (Gi), began operations in January, selling inexpensive sunglasses to large retailers like Walgreens and othes smaller stores. Assume the following transactions occurred during

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Griswold's, Incorporated (Gi), began operations in January, selling inexpensive sunglasses to large retailers like Walgreens and othes smaller stores. Assume the following transactions occurred during its first six months of operations: January 1 Sold merchandise to walgreens for $26,000; the cost of these goods to 91 was $11, 400: February 12 Received payment in fuli from Walgreens. March 1 Sold eurchandise to Bravis Phareaco on account for $3,600; the cost of these goods to 61 was $1,700. April 1 sold merchandise to Tonyfs phareacy on becount for $8,600. The cost to 61 was $4,700. May 1 Sold eerchandise to Anjuli Stores on account for $2,600; the cost to ar was $1,500, June 17 Received $6,800 on account fron Tony's Pharmacy. Required: 1. Complete the following aged listing of customer accounts at June 30 . 2. Estimate the Allowance for Doubtful Accounts required at June 30 assuming the following uncollectible rates one month, 1 percent; two months, 5 percent, three months, 20 percent; more than three months, 40 percent. 3-a. Show how GI would report its accounts recelvable on its June 30 balance sheet. 3-b. What amounts would be reported on an income statement prepated for the six-month period ended June 30

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