1. Give the journal entries needed to account for the following transactions and events:

1. On October 22, 2021 Viviane Very Valuable Vaccines delivers a case of vaccines to Pauls Discount Medical Center. The list price of the vaccines is $5,500 per case, but since Paul is a regular customer of Viviane, Viviane only charged $5,000 for the case. The terms of the deal are 2%/10, n/30. The wholesale cost of the case to Viviane was $3,500. Viviane uses the net method of recording sales discounts.

Date	Accounts	Dr.	Cr.
10.22	Accounts receivable	5,100
	Sales discount	100
	Sales revenue		5000

2. On November 3, Paul has not yet paid for the vaccines.

Date	Accounts	Dr.	Cr.

3. Viviane also has a return policy for all the vaccines they sell that allows customers to return any merchandise not needed within 30 days of the purchase. On November 10, Pauls returns of the vaccines purchased on October 22.

Date	Accounts	Dr.	Cr.

4. What would be the balance of Accounts Receivable as of November 11, 2021? Show the T-account for A/R and its contents to date.

5. On November 15, Pauls has not yet paid for the vaccines. On December 15, Paul STILL hasnt paid for the vaccines. Viviane accounting staff determines that it appears unlikely Viviane is going to ever pay for the vaccines.

Date	Accounts	Dr.	Cr.

6. At December 31, Viviane accounting staff decides that there is ZERO chance that theyll ever collect the money due from Paul.

Date	Accounts	Dr.	Cr.

7. For the year ended December 31, 2021, what would appear in Vivianes financial statements for each of the following items related to the original transaction (in part (a) the sale of vaccines to Pauls)?

1. Net sales revenue

2. Uncollectible accounts (bad debts) expense

3. Cost of goods sold

4. Allowance for uncollectible accounts

5. Accounts receivable

6. Net income or loss