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At December 31, 2021, Oriole Company reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $573,000 33,000 During 2022,
At December 31, 2021, Oriole Company reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $573,000 33,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $2,450,000 2. Sales returns and allowances 56,000 3. Collections of accounts receivable 2,150,000 4. Write-offs of accounts receivable deemed uncollectible 46,000 5. Recovery of accounts previously written off as uncollectible 20,000 Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles information provided in (c). (Round answers to 1 decimal place, e.g. 25.2. Use 365 days for calculation.) Accounts receivable turnover Average collection period times days
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