The following transactions occurred over the months of September to December 2017 at Nicole's Getaway Spa (NGS). September October Sold spa merchandise to Ashley Welch Beauty for $10,800 on account; the cost of these goods to NGS was $5,400. Sold merchandise to Kelly Fast Nail Gallery for $7,200 on account; the cost of these goods to NGS was $3,200. Sold merchandise to Raea Gooding Wellness for $2,550 on account; the cost of these goods to NGS was $1,690. Received $7,200 from Ashley Welch Beauty for payment on its account. November December Required: 1. 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.) 1 Record the sale of merchandise to Ashley Welch Beauty for $10,800 on account. 2 Record cost of the goods sold to Ashley Welch Beauty. 3 Record the sale of merchandise to Kelly Fast Nail Gallery for $7,200 on account. 4 Record cost of the goods sold to Kelly Fast Nail Gallery. 5 Record the sale of merchandise to Raea Gooding Wellness for $2,550 on account. 6 Record cost of the goods sold to Raea Gooding Wellness. 7 Record the collection from Ashley Welch Beauty 2. Estimate the Allowance for Doubtful Accounts required at December 31, 2017, assuming NGS uses the aging of accounts receivable method with the following uncollectable rates: one month, 2 percent; two months, 6 percent; three months, 20 percent; more than three months, 35 percent. Allowance for doubtful accounts 3. The Allowance for Doubtful Accounts balance was $1,550 (credit) before the end-of-period adjusting entry was made. Prepare the journal entry to account for the Bad Debt Expense. View transaction list Journal entry worksheet Record the entry to account for the Bad Debt Expense. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 4. Assume the end of the previous year showed net accounts receivable of $1,025, and net sales for the current year is $12,750. Calculate the accounts receivable turnover ratio. (Round your answer to 1 decimal place.) Accounts receivable turnover ratio times times 5. Audrey's Mineral Spa has an accounts receivable turnover ratio of 2.0 times. Which company is doing a better job in collecting receivables from customers? O Audrey's Mineral Spa O Nicole's Getaway Spa