huk Corporation is a small private corporation that sels desktop printers to local businesses and schools. On May 1, 2021, the following were the account balances of Huk Corporation Debits Credits Cash 24300 Allowance for Doubtful Accounts 900 Accounts Receivable 9000 Accumulated Depreciation (Van) 18000 Inventory (255 unts) 51000 Accumulated Depreciation (Furniture & Foctures) 1200 Van 19200 Accounts Payable 4800 Furniture & Fixtures 5400 Common Shares 6000 Retained Earnings 78000 Total Debits 108900 Total Credits 108900 During May 2021, the following transactions took place May 1: Bought 84 desktop printers for $84 each on account May 1: Bought a van, paying $6300 cash as a down payment and signed a 7 month $13200, 6% note payable for the balance. The company paid $330 to have its company logo painted on the side of the van The residual value is $4800. The old van was sold for $3900, it cost $19200 and acculumated depreciation up to the date of disposal was $18000 May 10 Sold 72 printers to Star Lord Inc. on account May 12 Marvel Corporation agreed to sign a 60-day nite recevable to replace a $1500 accounts receivable cure that day. The interest rate on the note is 5.1% May 20 Sold 6 printers to Thor Inc. using a VISA card to pay for the transaction A 1.2% service for s charged by VISA. May 22. Sold 57 printers to Tony Stark Public School on account May 24: Returned for credt 2 damaged printers from Star Lord Inc., costing S144 each May 28 Received payment in full from Star Lord Inc. for the balance owing. May 28 Wrote off as uncollectable $1800 of accounts receivable May 29. Paid accounts payable, $S700. May 30 Recovered an accounts receivable that was written off in April $510. May 31: Paid Operating expenses totaling $27300 May 31: Recorded depreciation on the van and the furniture & futures. The company whes straight-ino depreciation for tho van. The van la estimated to be used for 10 yours. The furniture & futures are depreciated using the straight-Ino method over 4 years. There was no resikud value on the furniture and featuren. May 31: Recorded interest on the note payable. May 31: Recorded interest on the notes receivable May 31: The company records the bad debt experse based on the aging of accounts receivables, which follows: Number of Days Outstanding 0-30 days31-60 days 61-90 days 90+ dalys Accounts Receivable $16800 $4800 $2550 Estrated Percentage Uncolectable 1.2% 3% 12% Other Information: 1) The selling price for each of the printers is $270. 2) Hulk Corporation uses the FIFO method under the perpetua inventory system to account for inventory 3) In the past, Huk Corporation has used the following accounts on the financial statements: Bad Debt Expense, Cost of Goods Sold, Credit Card Foe, Depreciation Expense, Gain on Sate, Interest Expense , Interest Payable, Interest Receivable, Interest Revenue. Loss on Sale, Notes Payable, Notes Receivable, Operating Expenses, Sales Returns, Sales Revenue. Not all accounts have been used each period. Required: 1) Prepare the journal entries for the transactions including any adjusting journal entries for the month of May 31, 2021. Place your answer under "Requirement in the Answer tab. A reminder to round all final numbers to the nearest dolar. Do not round during calculations. Ensure your speling is accurate. Do not use abbreviations for your accounts. Spel them out in their entirety. A reminder to only use the accounts gven in the question $630 6%