Geary, Incorporated Had the Following Sales During Year 2 $\begin{array}{ll}\text { Cash sales } & \$ 240,000 \\\text { Credit sales } & 1,200,000 \\\text { Credit card sales } & 4,000,000\end{array}$

Geary, Incorporated had the following sales during Year 2:
$\begin{array}{ll}\text { Cash sales } & \$ 240,000 \\\text { Credit sales } & 1,200,000 \\\text { Credit card sales } & 4,000,000\end{array}$
Geary also had the following beginning and ending balances in its receivables accounts:
$\begin{array}{lrr}&\text { Beginning}&\text { Ending}\\\text { Credit sales } & \$ 240,000 & \$ 180,000 \\\text { Credit card sales } & 800,000 & 840,000\end{array}$
Geary, who uses the allowance method of accounting for uncollectible accounts, estimated that 3% of the credit sales will go uncollected. The credit card company charges Geary a 4% service charge.Required:How will Geary's year-end adjusting entry for uncollectible accounts expense affect the company's financial statements?
How will the entry to record the credit card sales affect the company's financial statements?
What is Geary's cash flow from customers for the year?