The following transactions occurred over the months of September to December at Nicole's Getaway Spa (NGS). Septenber Sald spa nerchandise to Ashley velch Beauty for $1,600 on account; the cost of these goods to MGS mas \$820. October 5old eerchandise to Xelly fast Maf1 Gallery for $370 on account; the cost of these goods to Mins was \$160. Hovember sold oerchandise to Raen Gooding Wellness for 5220 on account; the cost of these goods to mos was sise. Decenber fleceived $1,080 fron Ashley Welch Beauty for payment on its account. Required: 1. Prepare joumal 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 receivables 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, 18;, two months, 5%, three months. 20%; more than three months, 40\%. 3. The Allowance for Doubtful Accounts balance was $43 (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 receivable of $760, and net sales for the current year are $8,600. Calculate the accounts recelvable turnover ratio 5. Audrey's Mineral Spo has an accounts recelvable turnover ratio of 8.0 times. How does NGS compare to this competitor? Journal entry worksheet 5 Record sales revenue of $1,600 on account. Note: Enter debits before credits. Estimate the Allowance for Doubtful Accounts required at December 31, assuming the only receivables outstanding at December 31 artse from the transactions listed above. NGS uses the aging of accounts recelvable method with the following uncollectible rates; one moath, 1%; two months, 5%; three months, 20%; more than three months, 40%. Journal entry worksheet Record the adjusting entry for bad debts using the aging of accounts receivable. Note: Enter debits before credits: Complete this question by entering your answers in the tabs below. Assume the end of the previous year showed net accounts recelvable of $760, and net sales for the current year are $8,600. Calculate the accounts recelvable turnover rotlo. (Do not round intermediate calculations. Round your flial answer to 1 decimal place)