Hulk Corporation is a small private corporation that sells desktop printers to local businesses and schools. On May 1, 2022, the following were the account balances of Hulk Corporation: Debits Cash 60750 Allowance for Doubtful Accounts Credits 2250 Accounts Receivable 22500 Accumulated Depreciation (Van) 45000 Inventory (637.5 units) 127500 Accumulated Depreciation (Furniture & Fixtures) 3000 Van 48000 Accounts Payable 12000 Furniture & Fixtures 13500 Common Shares 15000 Retained Earnings 195000 Total Debits 272250 Total Credits 272250 During May 2022, the following transactions took place: May 1: Bought 255 desktop printers for $255 each on account. May 1: Bought a van, paying $13500 cash as a down payment and signed a 7 month $54000, 6% note payable for the balance. The company paid $975 to have its company logo painted on the side of the van. The residual value is $7500. The old van was sold for $13500; it cost $48000 and acculumated depreciation up to the date of disposal was $45000. May 10: Sold 255 printers to Star Lord Inc. on account. May 12: Marvel Corporation agreed to sign a 60-day note receivable to replace a $2550 accounts receivable due that day. The interest rate on the note is 15%. May 20: Sold 6 printers to Thor Inc. using a VISA card to pay for the transaction. A 3.75% service fee is charged by VISA. May 22: Sold 150 printers to Tony Stark Public School on account. May 24: Returned for credit 9 damaged printers from Star Lord Inc., costing $240 each. May 28: Received payment in full from Star Lord Inc. for tha balance owing. May 28: Wrote off as uncollectable $6000 of accounts receivable. May 29: Paid accounts payable, $15000. May 30: Recovered an accounts receivable that was written off in April, $900. May 31: Paid operating expenses totalling $68250. May 31: Recorded depreciation on the van and the furniture & fixtures. The company uses straight-line depreciation for the van. The van is estimated to be used for 8 years. The furniture & fixtures are depreciated using the straight-line method over 8 years. There is no residual value on the furniture and fixtures. May 31: Recorded interest on the note payable. May 31: Recorded interest on the notes receivable. May 31: The company records the bad debt expense based on the aging of accounts receivables, which follows: