At December 31, 2017, Cullumber Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Credit Debit $546,000 Accounts receivable $273,000 Accounts payable Cash Cost of goods sold Interest receivable Interest revenue Merchandise inventory Notes receivable, due April 10, 2018 31,200 1,365,000 878 1,755 253,500 35,100 Prepaid insurance 6,240 39,000 Short-term investments 3,500,000 Sales Sales returns and allowances Unearned revenue 78,000 19,500 Prepare the journal entry to record the bad debt expense on December 31, 2017, assuming the credit manager estimates that 4% of the accounts receivable will become uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Prepare the current assets section of the balance sheet for Cullumber Industries on December 31, 2017. (List Current Assets in order of liquidity. Enter account name only and do not provide descriptive information.) CULLUMBER INDUSTRIES Balance Sheet (Partial) Calculate the receivables turnover and collection period. (Remember that this is the end of the first year of business.) (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Receivables turnover times Average collection period days