The following transactions occurred over the months of September to December at Nicole's Getaway Spa (NGS) Septenber sold spa merchandise to Ashley Welch Beauty for $2,250 on account: the cost of these goods to NGS vas $1,080. october Sold merchandise to Kelly Fast Nail Gallery for $630 on account: the cost of these goods to NGS was $290. November Sold merchandise to Raea Gooding Wellness for $480 on account: the cost of these goods to NGS was $280. December Received $1,470 from Ashley Welch Beauty for payment on its account. 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 receivables outstanding at December 31 arise from the transactions listed above. NGS uses the aging of accounts receivable method with the following uncollectible rates 3. The Allowance for Doubtful Accounts balance was $56 (credit) before the end-of-period adjusting entry is made. Prepare the journal 4. Assume the end of the previous year showed net accounts receivable of $890, and net sales for the current year are $9,900 5. Audrey's Mineral Spa has an accounts receivable turnover ratio of 12.0 times. How does NGS compare to this competitor? one month, 2%; two months, 5%; three months, 20%, more than three months, 35%. entry to account for the Bad Debt Expense. Calculate the accounts receivable turnover ratio. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Required 5 Prepare journal entries for each of the transactions. Assume a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)