revisit the june 22 transaction described in question 4 3 now two additional provisi 536614

Revisit the June 22 transaction described in Question 4.3. Now, two additional provisions have been added—a commission and an allowance for nonpayment. You ship 3,500 NCDs on June 22 to OEM Communications for a gross price of $26 per unit to be paid within 30 days. A commission of 20 percent is payable to Lavalier Sales and Marketing (Channel Islands). Based on the prior experience of Lavalier Corporation, you predict that 3 percent of sales will be uncollectible. 5.2. Revisit the July 18 transaction described in Question 4.5. Now, the July 18 transaction must include the additional information provided in Question 5.1. You receive payment in full on July 18 for the June sales to OEM Communications. You pay the sales commission to Lavalier Sales and Marketing (Channel Islands) and keep the balance of the cash in your demand deposit account.