Please help with #2 and #3, thank you! 
IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30, 2020: May May April 10: Received an order from Peter's Appliances, a wholesaler, for 50 machines. April 30: Sold 75 machines to Yuri Inc. on credit. 1: The purchasing manager of Peter's Appliances visited IceKreme's factory and purchased 54 machines on credit, instead of the 50 machines that were previously ordered. 5: Yuri Inc. paid for the machines purchased on April 30. May 7: Sold 20 machines to Cheng Ltd. on credit. May 10: Wrote off $14,000 of accounts receivable that were considered uncollectible. These receivables relate to sales made prior to April 1, 2020. May 15: Peter's Appliances returned two defective machines and paid the amount due. June 1: Received $128,000 from Cheng Ltd. on account. June 30: Recovered $4,400 from the receivables that were written off on May 10. Additional information is as follows: IceKreme sold all machines at $8,000 per unit. All of IceKreme's sales were on credit with terms 2/10, n/30. IceKreme's records included the following items and their balances as at March 31, 2020: Accounts receivable Allowance of doubtful accounts (credit balance) Net sales $ 88,000 20,400 880,000 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.) No Date Debit Credit General Journal No journal entry required 1 April 10 April 30 600,000 N Accounts receivable Sales revenue 600,000 3 May 01 432,000 Accounts receivable Sales revenue 432,000 4 May 05 Cash 588,000 12,000 Sales discounts Accounts receivable 600,000 5 May 07 160,000 Accounts receivable Sales revenue 160,000 6 May 10 14,000 Allowance for doubtful accounts Accounts receivable 14,000 7 May 15 Cash Sales allowances and returns Accounts receivable 416,000 16,000 432,000 8 June 01 128,000 Cash Accounts receivable 128,000 9 June 30 4,400 Accounts receivable Allowance for doubtful accounts 4,400 10 June 30 4,400 Cash Accounts receivable 4,400 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.) Aging of accounts receivable Not yet 1-30 days due past due 5% 10% 31-60 days past due 15% Over 60 days past due 20% Estimated % uncollectible a. Determine the amount of receivables that may not be collectible in the future as on June 30, 2020. Amount of uncollectible b. 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 transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the bad debt expenses estimated for the period. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal 3. IceKreme's net accounts receivable were $128,000 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.) Average collection period days
