The following transactions occurred over the months of September to December at Nicole's Getaway Spa (NGS). September Sold spo merchandise to Ashley Welch Beauty for $1,700 on account; the cost of these goods to NGS was 5860 . October Sold merchandise to Kelly Fast Nail Gallery for $410 on account; the cost of these goods to NGs was \$180. November Sold merchandise to Haca Gooding Nellness for $260 on account; the cost of these goods to NGs was $170. December Received $1,140 froe Ashley Welch Beauty for payment on ita 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 receivable method with the following uncollectible rates: one month, 2\%; two months, 5%; three months, 20%; more than three months, 35\%. 3. The Allowance for Doubtful Accounts balance was $45 (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 $780, and net sales for the current year are $8,800. Calculate the accounts receivable turnover ratio. 5. Audrey's Mineral Spa has an accounts recelvable turnover ratio of 8.0 times. How does NGS compare to this competitor? The Miowance for Doubtfut Accounts balance was $45 (credit) before the end-of-perlod adjusting entry is made. Prepare the journal entry to occount for the Bad Debt Expense. (If no entry it requited for o transactionyevent, select "No Joumal Entry Rechuired" in the fint occount fiedd.) Journal entry worksheet Fecord the adjusting entry for bad debts using the aging of accounts recelvable. Note ferter Aebiti before oredits. Complete this question by entering your answers in the tabs below. Assume the end of the previous year showed net accounts receivable of $780, and net sales for the current year are $8,800. Calculate the accounts recelvable turnover ratio. (Do not round intermediate calculations. Round your final answer to 1 decimal place) 5. Audrey's Mineral Spa has an accounts receivable turnover ratio of 8.0 times. How does NGS compare to this compe Complete this question by entering your answers in the tabs below. Audrey's Mineral Spa has an accounts recelvable turnover ratio of 8.0 times. How does NGS compare to this competitor