Question #2 ( 10 Marks) The following transactions of Viking Company, assuming they use the allowance method to account for uncollectible accounts. April 1: Sold $ 2,500 of merchandise to Arthur Co., Receiving an 8% , 90-day , $2,500 Notes . April 15: Wrote off $1,500 owed by Network Co. April 30 : Received a $6,000, 5% ,30-day note receivable from Calvin Co. as exchange for its $6,000 account receivable. May 30 : The note received from Calvin on April 30 was collected in full. June 30 : Arthur Co. was unable to pay the note on the due date. July 15 : Network Co. paid $1,000 of the amount written off on April 15. July 20 : Viking Company estimates that 0.5% of its $ 1,900,000 of credit sales would be uncollectible. Required : A-Prepare the journal entries. B- Explain in details the journal entries (why it's recorded in debit or credit side ) and the nature of account Dr or Cr and its classification Assets , liabilities , owner's equity , Revenue or expenses