hi please help quick with questions 2 and 3

P5-6 (Algo) Determining Bad Debt Expense Based on Aging Analysis and Interpreting Ratios LO5-3, 5-4 ceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 of the current year: April 10 Received an order from Peter's Appliances, a wholesaler, for 10 machines. April 30 Sold 15 machines to Yuri Inc. on credit. fay 1 The purchasing manager of Peter's Appliances visited Icekrene's factory and purchased 12 machines on credit, instead of the 10 nachines that were previousty ordered. Nay 5 Yuri Inc. paid for the machines purchased on April 30. Nay 7 Sold 2 machines to Cheng Ltd. on credit. Ray 10 Wrote off $13,200 of accounts receivable that were considered uncollectible. These receivables relate to sales. alade prior to April 1 of the current year. Nay 10 Peter's Appliances paid the anount due to IceKrene. June 30 Recovered $3,600 from the receivables that were written off on May 10. Additional information is as follows: - IceKreme sold all machines at $16,000 per unit. - All of IceKreme's sales were on credit with terms n/30. - IceKreme's records included the following items and their balances as at March 31 of the current year: Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30 of the current year. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Vow transiction list Viow journal entry works heet ( \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Date & General Journal & Debit & Credit \\ \hlinel & 1 & April 10 & No joumal entry required & & \\ \hline \multirow[t]{2}{*}{1} & 2 & April 30 & Accounts receivable & 240,000 & \\ \hline & & & Sales revenue & & 240,000 \\ \hline & 3 & May 01 & Accounts receivable & 192.000 & \\ \hline & & & Sales revenue & & 192,000 \\ \hline \multirow[t]{2}{*}{1} & 4 & May 05 & Cash & 240,000 & \\ \hline & & & Accounts receivable & & 240,000 \\ \hline & 5 & May 07 & Accounts receivable & 32,000 & \\ \hline & & & Sales revenue & & 32,000 \\ \hline \multirow[t]{2}{*}{1} & 6 & May 10 & Allowance for doubtful accounts & 13,200 & \\ \hline & & & Accounts receivable & & 13,200 \\ \hline \multirow[t]{2}{*}{1} & 7 & May 10 & Cash & 192,000 & \\ \hline & & & Accounts receivabie & & 192,000 \\ \hline \multirow[t]{2}{*}{1} & 8 & June 30 & Acoounts receivable & 3,600 & \\ \hline & & & Allowance for doubtful acoounts & & 3,600 \\ \hline \multirow[t]{2}{*}{1} & 9 & June 30 & Cash & 3.600 & \\ \hline & & & Accounts receivable & & 3,600 \\ \hline \end{tabular} 2. The company uses the aging of accounts receivable method to determine the amount of bad debt expense. The estimated uncollectible rates for the various age groups are as follows: (Hint: Use a timeline to keep track of accounts recelvable in order to determine the age of these recelvables.) a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the bad debt expenses estimated for the period. Note: Enter debits before credits. 3. Icekreme's net accounts recelvable were $80,000 at June 30 of the prior year. Calculate IceKreme's average collection period for the current fiscal year. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimat place.) P5-6 (Algo) Determining Bad Debt Expense Based on Aging Analysis and Interpreting Ratios LO5-3, 5-4 ceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 of the current year: April 10 Received an order from Peter's Appliances, a wholesaler, for 10 machines. April 30 Sold 15 machines to Yuri Inc. on credit. fay 1 The purchasing manager of Peter's Appliances visited Icekrene's factory and purchased 12 machines on credit, instead of the 10 nachines that were previousty ordered. Nay 5 Yuri Inc. paid for the machines purchased on April 30. Nay 7 Sold 2 machines to Cheng Ltd. on credit. Ray 10 Wrote off $13,200 of accounts receivable that were considered uncollectible. These receivables relate to sales. alade prior to April 1 of the current year. Nay 10 Peter's Appliances paid the anount due to IceKrene. June 30 Recovered $3,600 from the receivables that were written off on May 10. Additional information is as follows: - IceKreme sold all machines at $16,000 per unit. - All of IceKreme's sales were on credit with terms n/30. - IceKreme's records included the following items and their balances as at March 31 of the current year: Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30 of the current year. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Vow transiction list Viow journal entry works heet ( \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Date & General Journal & Debit & Credit \\ \hlinel & 1 & April 10 & No joumal entry required & & \\ \hline \multirow[t]{2}{*}{1} & 2 & April 30 & Accounts receivable & 240,000 & \\ \hline & & & Sales revenue & & 240,000 \\ \hline & 3 & May 01 & Accounts receivable & 192.000 & \\ \hline & & & Sales revenue & & 192,000 \\ \hline \multirow[t]{2}{*}{1} & 4 & May 05 & Cash & 240,000 & \\ \hline & & & Accounts receivable & & 240,000 \\ \hline & 5 & May 07 & Accounts receivable & 32,000 & \\ \hline & & & Sales revenue & & 32,000 \\ \hline \multirow[t]{2}{*}{1} & 6 & May 10 & Allowance for doubtful accounts & 13,200 & \\ \hline & & & Accounts receivable & & 13,200 \\ \hline \multirow[t]{2}{*}{1} & 7 & May 10 & Cash & 192,000 & \\ \hline & & & Accounts receivabie & & 192,000 \\ \hline \multirow[t]{2}{*}{1} & 8 & June 30 & Acoounts receivable & 3,600 & \\ \hline & & & Allowance for doubtful acoounts & & 3,600 \\ \hline \multirow[t]{2}{*}{1} & 9 & June 30 & Cash & 3.600 & \\ \hline & & & Accounts receivable & & 3,600 \\ \hline \end{tabular} 2. The company uses the aging of accounts receivable method to determine the amount of bad debt expense. The estimated uncollectible rates for the various age groups are as follows: (Hint: Use a timeline to keep track of accounts recelvable in order to determine the age of these recelvables.) a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the bad debt expenses estimated for the period. Note: Enter debits before credits. 3. Icekreme's net accounts recelvable were $80,000 at June 30 of the prior year. Calculate IceKreme's average collection period for the current fiscal year. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimat place.)