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HW Score: 0%, of 20 pts This problem takes you through the accounting for sales receivables, and uncollectibles for DHL Corporation, the aver Byling on credil, DH.carnet expect to colects of counts receivable Assume that way 2017, and 2016, respectively, DHL reported the following on its balance sheet (adapted and in millions of US doo Click the lon to view the balance sheet information) During the your ended May 31, 2017, DHL, med service revenue and collected cash from customers. Assume bad debit expers for the year was $30 million and the workers Reus Before preparing the accounts, le's first record the journalties for the transactions of H. for the year ended May 1, 2017 Requirement 2. Joumalize the actions of DHL for the year anded May 31, 2017 Record debit first, the credits Explanations are not required) a Service revenue on account, $37.958 million Journal Entry Date Accounts Debit Credit 0 Balance sheet information 1 May 31 2017 2016 Accounts receivable $ $ Less: Allowance for uncollectibles 4,515 (150) 4,070 (137) Accounts receivable, net. $ 4.365 $ 3,933 Print Done Requirements 1. Prepare T-accounts for Accounts Receivable and Allowance for Uncollectibles, and insert the May 31, 2016, balances as given. 2. Journalize the following assumed transactions of DHL for the year ended May 31, 2017. Explanations are not required. a. Service revenue on account, $37.958 million b. Collections on account, $37,144 million c. Bad debt expense, $380 million d. Write-offs of uncollectible accounts receivable, $369 million e. Recovered an accounts receivable, $2 million 3. Post your entries to the Accounts Receivable and the Allowance for Uncollectibles T-accounts 4. Compute the ending balances for the two T-accounts, and compare your balances to the actual May 31, 2017, amounts. They should be the same. 5. Show what DHL would report on its income statement for the year ended May 31, 2017. Print Done