3 E8-15 (Static) Determining the Effects of Uncollectible Accounts on the Receivables Turnover Ratio [LO 8-2, LO 8-4] The annual report for Fabeck Finishing Corporation contained the following information: 12 (in millions) points Accounts Receivable Allowance for Doubtful Accounts Skipped Accounts Receivable, Net eBook References 2021 2020 $455 35 $420 $455 25 $430 Assume that accounts receivable write-offs amounted to $1 during 2021 and $9 during 2020 and that Fabeck Finishing did not record any recoveries. Required: - Complete the following table indicating the direction of the effect (+ for increase, for decrease, and NE for no effect) of each transaction during 2021: Transaction a. Writing off uncollectible accounts. b. Recording bad debt expense. Net Credit Sales Average Net Accounts Receivable Receivables Turnover Ratio