Please help with question 2a 2b and 3. Thank you

P5-6 (Algo) Determining Bad Debt Expense Based on Aging Analysis and Interpreting Ratios LO5-3, 5-4 IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1and June 30 of the current year: April 1@ Received an order from Peter's Appliances, a wholesaler, for 10 machines. April 3@ Sold 15 machines to Yuri Inc. on credit. May 1 The purchasing manager of Peter's Appliances visited IceKreme'''s factory and purchased 12 machines on credit, instead of the 10 machines that were previously ordered. May 5 Yuri Inc. paid for the machines purchased on April 30. May 7 Sold 2 machines to Cheng Ltd. on credit. May 10 Wrote off $13,900 of accounts receivable that were considered uncollectible. These receivables relate to sales made prior to April 1 of the current year. May 10 Peter's Appliances paid the amount due to IceKreme. June 30 Recovered $3,950 from the receivables that were written off on May 10. Additional information is as follows: IceKreme sold all machines at $19,500 per unit. o All of IceKreme's sales were on credit with terms n/30. |IceKreme's records included the following items and their balances as at March 31 of the current year: Accounts receivable $ 98,000 Allowance of doubtful accounts (credit balance) 24,500 Net sales 1,075,000 Required: 1. Prepare the journal entries to record the transactions that occurred from April 1to June 30 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) @ Answer is complete and correct. Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30 of the current year. (If no entry is required for a transaction/event, select "No journal entry required\" in the first account field.) @ Answer is complete and correct. 1 April 10 No journal entry required Q 2 April 30 Accounts receivable o 292,500 @ Sales revenue o 292,500 @ 3 May 01 Accounts receivable o 234,000 @ Sales revenue o 234,000 @ 4 May 05 Cash o 292,500 @ Accounts receivable o 292,500 @ 5 May 07 Accounts receivable o 39,000 @ Sales revenue o 39,000 @ 6 May 10 Allowance for doubtful accounts o 13,900 @ Accounts receivable o 13,900 @ 7 May 10 Cash o 234,000 @ Accounts receivable o 234,000 @ 8 June 30 Accounts receivable o 3,950 @ Allowance for doubtful accounts o 3,950 @ 9 June 30 Cash o 3,950 @ Accounts receivable o 3,950 @ 2. The company uses the aging of accounts receivable method to determine the amount of bad debt expense. The estimated uncollectible rates for the various age groups are as follows: (Hint: Use a timeline to keep track of accounts receivable in order to determine the age of these receivables.) Analysis of Aged Accounts Receivable Not yet 1-3@ days 31-60 days Over 60 days due past due past due past due Estimated % uncollectible 5% 10% 15% 20% a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. Answer is not complete. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. June 30 Bad debt expense Allowance for doubtful accounts 3. lceKreme's net accounts receivable were $99,000 at June 30 of the prior year. Calculate IceKreme's average collection period for the current fiscal year. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.) a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. Answer is complete but not entirely correct. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. 8,120 @ 1 June 30 Bad debt expense Allowance for doubtful accounts 8,120 @ 3. IceKreme's net accounts receivable were $99,000 at June 30 of the prior year. Calculate IceKreme's average collection period for the current fiscal year. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.) Answer is complete but not entirely correct