Griswold's, Incorporated (GI), 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 operations. January 1 Sold merchandise to Walgreens for $10,000; the cost of these goods to GI was $3,000. February 12 Received payment in full from Walgreens. March 1 Sold merchandise to Bravis Pharmaco on account for $2,000; the cost of these goods to GI was $900. April 1 Sold merchandise to Tony's Pharmacy on account for $7,000. The cost to GI was $3,900. May 1 Sold merchandise to Anjuli Stores on account for $1,000; the cost to GI was $700. June 17 Received $6,000 on account from 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, 3 percent; two months, 4 percent; three months, 15 percent; more than three months, 30 percent. 3-a. Show how GI would report its accounts receivable on its June 30 balance sheet. 3-b. What amounts would be reported on an income statement prepared for the six-month period ended June 30? Complete the following aged listing of customer accounts at June 30. Unpaid Since Customer Total Balance June May April March (One Month) (Two Months) (Three Months) (Greater than Three Months) Anjuli Stores $ 1,000 $ 1,000 Bravis Pharmaco 2,000 2,000 Tony's Pharmacy 1,000 Walgreens Total $ 4,000 1,000 $ 1,000 $ 1,000 $ 2,000 < Reg1 Req 2 > Estimate the Allowance for Doubtful Accounts required at June 30 assuming the following uncollectible rates: one month, 3 percent; two months, 4 percent; three months, 15 percent; more than three months, 30 percent. Estimated Uncollectible One Month $ 0 Two Months 40 Three Months 150 More than Three Months 600 Total $ 790 Show how GI would report its accounts receivable on its June 30 balance sheet. GRISWOLD'S, Incorporated Balance Sheet (partial) At June 30 Accounts Receivable $ 4,000 Allowance for Doubtful Accounts 790 Accounts Receivable, Net of Allowance $ 3,210 What amounts would be reported on an income statement prepared for the six-month period ended June 30? GRISWOLD'S, Incorporated Income Statement (partial) For the Six Months Ended June 30 Sales Revenue $ 20,000 20,000 Cost of Goods Sold 8,500 $ 11,500