IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 , 2020 : April 10: Received an order from Peter's Appliances, a wholesaler, for 14 nachines. April 30. Sold 21 machines to Yuri Inc. on eredit. May 1: The purchasing manager of Feter's Appliances visited Icekreme's factory and purchased 17 machines on credit, instead of the 14 machines that were previous1y ordered. May 5: Yuri Ine. paid for the machines purchased on Aprit 30. May 7% sold 10 machines to Cheng Ltd. on credit. May 101 Wrote oft $14,000 of accounts receivable that were considered uncollectible. These receivablea relate to sales May 101 wrote off $14,000 of accounts May 15; Peter's Appliances returned two defective machines and paid the amount due. June 1 t Pecelved $80,000 from Cheng fitd on account. June 30 t Recovered $2,600 from the recelvables that were writeen off on May Io, Additional information is as follows: - Icekreme sold all machines at $10.000 per unit. - All of lcekreme's soles were on credit with terms 2/10,n/30. - Icekreme's records included the following litems and their balances as at March 31, 2020 Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 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 receivable in order to determine the age of these receivables.) a. Determine the amount of receivables that may not be collectibie in the future as on June 30,2020 . Prepare the journal entry to record bad debt expense at June 30, 2020, the company's fiscal year-end. (If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the bad debt expenses estimated for the period. Note: Emet debits before credits. 3. Icekreme's net accounts receivable were $80,000 at June 30,2019 . Calculate Icekreme's average collection period for fiscal year 2020. (Use 365 days a year, Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.)