luld be reported on the August 31, current year Chapter Supplement) Recording Sales the data presented in P6-1, which were selected from the records of Syles Company for the yar , Returns, and Bad Debts P6-7 ended December 31, current year. Required 1 Give the journal entries for these transactions, including the write-off of the unullctibleaccounst and the adjusting entry for estimated bad debts. Do not record cost of goods sold. Show computa tions for each entry. 2. Show how the accounts related to the preceding sale and collecio acivitis should be eprtiad on the current year income statement. (Treat sales discounts as a contra-revenue) ALTERNATE PROBLEMS luld be reported on the August 31, current year Chapter Supplement) Recording Sales the data presented in P6-1, which were selected from the records of Syles Company for the yar , Returns, and Bad Debts P6-7 ended December 31, current year. Required 1 Give the journal entries for these transactions, including the write-off of the unullctibleaccounst and the adjusting entry for estimated bad debts. Do not record cost of goods sold. Show computa tions for each entry. 2. Show how the accounts related to the preceding sale and collecio acivitis should be eprtiad on the current year income statement. (Treat sales discounts as a contra-revenue) ALTERNATE PROBLEMS