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IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 , 2020: April 10: Received an order from Peter's Appliances, a wholesaler, for 20 machines. April 30: Sold 30 machines to Yuri Inc. on credit. May 1: The purchasing manager of Peter's Appliances visited Icekreme's factory and purchased 23 machines on credit, 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 accounts receivable that were considered uncollectible. These receivables relate to sales made prior to April 1, 2020. May 15: Peter's Appliances returned 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 written off on May 10 . Additional information is as follows: - IceKreme sold all machines at $12,000 per unit. - All of Icekreme's sales were on credit with terms 3/10, n/30. - IceKreme's records included the following items and their balances as at March 31, 2020: b. Prepare the journal entry to record bad debt expense at June 30,2020 , 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.) 3. IceKreme's net accounts receivable were $144,000 at June 30, 2019. Calculate IceKreme's average collection period for fiscal year 2020. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.) IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 , 2020: April 10: Received an order from Peter's Appliances, a wholesaler, for 20 machines. April 30: Sold 30 machines to Yuri Inc. on credit. May 1: The purchasing manager of Peter's Appliances visited Icekreme's factory and purchased 23 machines on credit, 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 accounts receivable that were considered uncollectible. These receivables relate to sales made prior to April 1, 2020. May 15: Peter's Appliances returned 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 written off on May 10 . Additional information is as follows: - IceKreme sold all machines at $12,000 per unit. - All of Icekreme's sales were on credit with terms 3/10, n/30. - IceKreme's records included the following items and their balances as at March 31, 2020: b. Prepare the journal entry to record bad debt expense at June 30,2020 , 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.) 3. IceKreme's net accounts receivable were $144,000 at June 30, 2019. Calculate IceKreme's average collection period for fiscal year 2020. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.)

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