Essay
Geisel,Inc.reported net sales revenue of $600,000 in 2018 and $500,000 in 2019.The company's average net receivables were $120,000 during 2017 and $130,000 during 2018.At December 31,2019,the company had Accounts Receivable of $148,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,000.The company reported Bad Debt Expense of $6,000 during 2018.
Required:
a.Determine the net receivables at December 31,2019.
b.Calculate the receivables turnover ratio for 2018 and 2019.
c.Calculate the days to collect for 2018 and 2019.
Correct Answer:
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a.
b.
Receivable Turnover = Net credi...View Answer
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Correct Answer:
Verified
b.
Receivable Turnover = Net credi...
View Answer
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