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At December 31, 2021, Oriole Imports reported this information on its balance sheet. Accounts receivable $620.000 Less:Allowance for doubtful accounts 42,000 1. During 2022, the
At December 31, 2021, Oriole Imports reported this information on its balance sheet. Accounts receivable $620.000 Less:Allowance for doubtful accounts 42,000 1. During 2022, the company had the following transactions related to receivables. Sales on account $2,810,000 2. Sales returns and allowances 63.000 3. Collections of accounts receivable 2,510,000 Write-offs of accounts receivable deemed uncollectible 44,000 Recovery of bad debts previously written off as uncollectible 15,000 5. Compute the accounts receivable turnover. (Round answer to 1 decimal place, eg. 124.) Accounts receivable turnover 4,0 times e Textbook and Media List of Accounts X Your answer is incorrect. Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4. Use 365 days for calculation.) Average collection period 91.3 days
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