Wonder Widemoss Company has experienced rapid grosth in its first few months of operations and has had a significans increase in custorners renting cances and purchasing T-shirts. Mamy of these customers are asking for creolt terms. Ashley and Zander Wilson, stockholders and company managers, have decided it is lime to review their business transactions and ipdale some of their business practices. Their first step is to make decislons about handling accounts recelvable. So far, year to date credit sales nave been $33, obo. A revilew of outstanding reoelivabies restated in the following aging schedule: cick the icon to view the aging schedule.) Read the fequirements Requirement 1. The company wants to use the allowance method to estimate bad debts, Assume a zero beginning bolance for Allowance for Bad Debts. a. Detemine the estimated bad debts expense under the percent-of-sales methods at June 30,2019 . Assume that 5.5% of credit sales will not be collectied, (Round to the neanest dollar) b. Determine the estimaled bad debts expense under the percent-of-recelvables methods at June 30,2019 . Assume that 22% of recevabies wil not be collected. (Round to the nearest dollary c. Delemmine the estimated bad debts expense under the aging-of-recelvables methods at fune 30, 2019. Assume that 15% of involces 1 - 30 dapin will not be colliecied, 2016 of Requirement 2. Journalize the entry at June 30,2019 , to adjust for bad debts expense using the percent-ot-sales me last line of the journal entry table.) Requirement 3. Joumalize the entry at June 30,2019 , to record the write-off of the Little Cub Daycare invoice. (Rec) journal entry table. Assume that the Little Cub Daycare invoice makes up the entire Little Cub Daycare receivable ba Requirement 4. At June 30, 2019, T-accounts for Accounts Receivable and Alowance for Bad Debts before Requirements 2 and 3 have been opened for you. Requlrements 2 and 3 to those accounts. Assume a zero beginning balance for Allowance for Bad Debts. For each account, enter the balance, "Bal.", prior to the Jun. 30 entries on the first line of the T-account. Post the two Jun. 30 entries, using "Jun. 30 " posting refe of the T-accounts. Use the final line of the T-accounts to enter the adjusted balances, along with a "Bal." reference. (If an account has a zero baiance, select the enter "o. on the appropriate side of the T-acoount.) Requirement 5. Show how Wonder Wilderness Company will report net accounts recelvabie on the balance sheet on June 30 , 2019. (Continue to assume that is in use and that the entries from Requirements 2 and 3 have been posted to the ledger.) Requirement 5. Show how Wonder Widerness Company will report net accounts receivable on the balance sheet on June 30, 2019. (Contir is in use and that the entries from Requirements 2 and 3 have been posted to the ledger)