The following transactions occurred over the months of September to December at Nicole's Getaway Spa (NGS). September Sold spa merchandise to Ashley Welch Beauty for $2,150 on account; the cost of these goods to NGS was October $1,640 November Sold merchandise to Kelly Fast Nail Gallery for $590 on account; the cost of these goods to NGS was $276. December Received $1,410 from Raea Gooding Wellness for $440 on account; the cost of these goods to NGS was $260. Required: 1. Prepare journal entries for each of the transactions. Assume a perpetual inventory system. 2. Estimate the Allowance for Doubtful Accounts required at December 31 , assuming the only recelvables outstanding at December 31 arise from the transactions listed above. NGS uses the aging of accounts recelvable method with the following uncollectible rates: one month, 3\%; two months, 5%; three months, 20%; more than three months, 30%. 3. The Allowance for Doubtful Accounts balance was $54 (credit) before the end-of-period adjusting entry is made. Prepare the journal entry to account for the Bad Debt Expense. 4. Assume the end of the previous year showed net accounts recelvable of $870, and net sales for the current year are $9.700. Calculate the accounts recelvable turnover ratio. 5. Audrey's Mineral Spa has an accounts recelvable turnover ratio of 12.0 times. How does NGS compare to this competitor? Answer is not complete. Complete this question by entering your answers in the tabs below. Assume the end of the previous year showed net accounts receivable of $870, and net sales for the current year are $9,700. Calculate the accounts receivable tumover ratio. (Do not round intermediate calculations. Round your final answer to 1 decimal place)