Required information [The following information applies to the questions displayed below.] The following data were selected from the records of Sharkim Company for the year ended December 31 , Current Year. In the following order, except for cash sales, the company sold merchandise and made collections on credit terms 2/10, n/30 (assume a unit sales price of $500 in all transactions). Transactions during the current year: a. Sold merchandise for cash, $229,000. b. Sold merchandise to Karen Corporation; invoice price, $13,000. c. Sold merchandise to White Company; invoice price, $24,500. d. Karen paid the invoice in (b) within the discount period. e. Sold merchandise to Cavendish Incorporated; invoice price, $27,000. f. Two days after paying the account in full, Karen returned one defective unit and received a cash refund. g. Collected $88,396 cash from customer sales on credit in prior year, all within the discount periods. h. Three days after purchase date, White returned seven of the units purchased in (c) and received account credit. i. White paid its account in full within the discount period. j. Sold merchandise to Delta Corporation; invoice price, $19,500. k. Cavendish (e) paid its account in full after the discount period. I. Wrote off a prior year account of $2,600 after deciding that the amount would never be collected. m. The estimated bad debt rate used by the company was 4 percent of credit sales net of returns. Required: . Prepare the journal entries for these transactions, including the write-off of the uncollectible account and the adjusting entry for stimated bad debts. Do not record cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field