$\backslash$table$[[\frac{12}{2}\frac{?}{2023},\backslash$table$[[$The company paid cash for $$7,200$ of equipment. The equipment estimated useful life is$],[3$ years.$]],,],[,,,]]$

$612/31/2023$ The store sold $450$ toys for $$150$ each to customers on account. The company sent an invoice for the sales price plus the $8\%$ sales tax

$712/31/2023$ Record the cost of goods sold for the $450$ toys sold and remove the amount from the asset account inventory.

$800$ toys at $$75$ each

$812/31/2023$ The company uses the allowance for bad debt method and it estimates that bad debts will be $3\%$ of sales. Estimate based on sales revenue.