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You have a $80,000 of sales for the month of January that is listed below: Sales 1 Sales 2 Sales 3 Sales 4 Sales 5 $ S $ $ $ 2,000 on credit 15,000 cash 25,000 cash 20,000 on credit 18,000 50% was paid in cash/50% was paid on credit 80,000 a) Prepare your financial statements using the above information b) Under the allowance Method you determine that 50% of your ending account receivables will be uncollectible. Adjust your financial statements to reflect. Balance Sheet Stmt of R/E Income Stmt Liabilities Equity Assets +