5.The financial statements of Gentry Manufacturing Company report net sales of 600,000 and accounts receivable of 80,000 and 40,000 at the beginning and end of the year, respectively. What is the receivables turnover ratio for Gentry? 10 times 15 times C. 7.5 times d. 12 times 6. The financial statements of Gentry Manufacturing Company report net sales of 600,000 and accounts receivable of 80,000 and 40,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days? a. 26.7 times b. 48.7 times c. 36.5 times d. 24.3 times 7.On February 1, 2014, Janssen Company sells merchandise on account to Nicholson Company for $5,000. The entry to record this transaction by Janssen Company is a. Sales Revenue. 5,000 Accounts Payable. 5,000 b. Cash Sales Revenue c. Accounts Receivable. Sales Revenue d. Notes Receivable.... 5,000 ..5,000 5,000 5,000 5,000 -: 9411 eivable 5,000