WhatsApp.. 3:20 PM 18% chegg.com - Private business / accounting / accounting questions and answers IceKreme Inc. Makes Ice Cream Machines For Sale To Ice... Question: IceKreme Inc. Makes Ice Cream Machines For Sale To Ice Cream Parlours. The Following... IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following event JoeKremo Inc, makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30, 2014 April 10: Received an order from Peter's Appliances, a wholesaler, for 20 machines. May 1: The purchasing manager of Peter's Appliances visited looKreme's factory and purchased 23 machines instead of the 20 machines that were previously ordered May 5: Yuri Inc. paid for the machines purchased on April 30, May 7: Sold 15 machines to Cheng Ltd. on credit May 10: Wrote off $17.000 of trade receivables that were considered uncollectible. These receivables relate to sales made prior to April 1, 2014. May 15: Peter's Appliances retumed three defective machines and paid the amount due. June 1: Received $144,000 from Cheng Ltd. on account June 30: Recovered $2,900 from the receivables that were writen off on May 10. Additional information is as follows: IceKreme sold all machines at $12,000 per unit . All of looKrome's sales were on credit with terms 3/10, 1/30. loeKreme's records included the following items and their balances as at March 31, 2014: Trade receivables Allowance of doubtful accounts (credit balance) Net sales $ 58,000 18.000 580,000 Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30, 2014. (If no entry is required for a transactionlevent, select "No journal entry required in the first account field.) Required: 1. Prepare the journal entries to record the transactions that occurred from April to June 30, 2014. (If no entry is required for a transaction event, select "No journal entry required in the first account field) IceKreme ine makes ice cream machines for sale to Ice cream parlours. The following events occurred between April 1 and June 30, 2020 April 1: fedve order frontare places, bene, for machines 1: The purchasing ager at ruterte toplice visited Iverse's factory and purchase sachet credit rates of the machines that were previously ordered Yuline paid for the new wy: Soldachines to changed on credit wywrote off 11.00 of receivable that were considered decle. There able walte te sales made trit 2020 a 15 Petar police returned the detective each and paid the mount de Suured, from the written att Additional information is as follows te soldaat 56.000 per . All of kekreme's sales were on credit with terms 3/10,30 Icakumex records ncluded the following terms and their bolonces as at March 2020 Alle (credit balance Required 1. Prepare the journal entries to record the transactions that occurred from Apd 10 June 30, 2020.9 ne entry is required for a transaction event, select "No journal entry required in the first account feld) Check my w 3 Required: 1 Prepare the journal entries to record the transactions that occured from Aort to June 30, 2020, no entry is required for transaction event, select "No journal entry required in the first account field) 10 General Journal Debit Credit View View ournal entry when No Date 1 Art 10 Nountry 2 A www Sales 500.000 90.000 7 May 200.000 Accounts Sale 214.000 340300 Cash Set discount Acco 0.000 5 Mayor 120.000 Acco Sale 120.000 May 10 16.000 Alorda Acce 18000 Check my w 3 2. The company uses the aging of accounts receivable metod to determine the amount of bad debit expense. The estimated uncollectible rates for the various soe groups are as follows: Hint Use a timeline to keep track of accounts receivable in order to determine the age of these recevable) Anme to my dayOver pat tu out Determine the amount of receivables that may not be collectible in the future at one 20, 2020 Wierte b. Prepare the journal entry to record bad debt expense at June 30, 2020, me company focal year-end. One entry is required for transaction/event, select "No journal entry required in the first account field) Views View uniry with Date General Journal De Crecht + Before Nowacolor Check my work 3 10 3. kekime's not accounts receivable were $6.000 at June 30, 2016. Calculate kremes average collection period for Focal year 2020 ( 365 days a year Round intermediate calculations to 2 decimal places. Round the final anwer to decimal place) 4. This part of the quest is not part of your Connect assignment Check my w 3 Required: 1 Prepare the journal entries to record the transactions that occurred from April to June 30, 2020 of no entry is required for transaction event, select "No journal entry required in the first account field) 10 View Mewn amrywhet No Date General Journal 1 Apr 10 No need Deont Credit 2 Art 30 Acce 300.000 0.000 7 May Accueil 204.000 214.000 . Cash Scout Acco 340300 10.00 0.00 May Account Reco Salon 120.000 5 May 10 18.000 Nordic Acce Check my w 3 2. The company uses the aging of accounts recebemed to determine the amount of bad debt expense. The estimated uncollectible rates for the various soe groups are as follows it Use a timeline to keep track of accounts receivable in order to determine the age of these recevable) te det var past wait Bust & Determine the amount of receivables that tay not be collectible in the future is on June 20.2020 We are b. Propore the journal entry to record bad debt expense at June 30, 2020, the company's focal year-end. One entry is required for transaction/event. select "No journal entry required in the first account field) Vermistown wir wish Gene Journal De Crest Ne + Beton Nowo 30 2 kokieme's net accounts receivable were $96.000 at June 30, 2013. Calculate ekreme's average collection period for fiscal year 2010 ( 365 daye yent Round intermediate celelations to 2 decimal neces. Round the final answer to 1 decimalia 212 4. This part of the question is not part of your Connect assignment