show how the accounts related to the preceding sale and collection activities shoukd be reported on the current year income statement

In the following order, except for cash sales, the company sold merchandise and made collections on credit terms 4/10. n/30 (assume a unit sales price of $700 in all transactions). Transactions during current year: a. Sold merchandise for cash, $238,000. b. Sold merchandise to R. Smith; invoice price, $11,500. c. Sold merchandise to K. Miller, involce price. $32,000. d. Two days after purchase date, R. Smith returned one of the units purchased in (b) and received account credit. e. Sold merchandise to B. Sears; invoice price, $29,000. f. R. Smith paid his account in full within the discount period. g. Collected $94.000 cash from customer sales on credit in prior year, all within the discount periods. h. K. Miller pald the Involce in (c) within the discount period. 1. Sold merchandise to R. Roy: invoice price, $21,500. 1. Three days after paying the account in full, K. Miller returned seven defective units and received a cash refund. k. After the discount period, collected $5,000 cash on an account receivable on sales in a prior year. 1. Wrote off a prior year account of $4,000 after deciding that the amount would never be coilected. m. The estimated bad debt rate used by the company was 1.0 percent of credit sales net of returns. 2. Show how the accounts related to the preceding sale and collection activities should be reported on the current year income Note: Round your answers to the nearest whole dollar amount. statement. Required: 1. Complete the following bank reconciliation. 2. Prepare the journal entries that should be made as the result of the bank reconciliation. 3. What should the balance in the Cash account be after the reconciliation entries? 4. What total amount of cash should the company report on the September 30 balance sheet? Complete this question by entering your answers in the tabs below. Prepare the journal entries that should be made as the result of the bank reconciliation. (If no entry is requirf select "No journal entry required" in the first account field.) Journal entry worksheet 4 Record the entry for deposits during September. Note: Lnter debits before credits