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At December 31, 2021, Tamarisk Co. reported the following information on its balance sheet. Accounts receivable $958,800 Less: Allowance for doubtful accounts 78,200 During
At December 31, 2021, Tamarisk Co. reported the following information on its balance sheet. Accounts receivable $958,800 Less: Allowance for doubtful accounts 78,200 During 2022, the company had the following transactions related to receivables. 1. Sales on account $3,729,100 2. Sales returns and allowances 48,800 3. Collections of accounts receivable 2,818,100 4. Write-offs of accounts receivable deemed uncollectible 92,500 5. Recovery of accounts previously written off as uncollectible 28,000 * Your answer is incorrect. Compute the accounts receivable turnover and average collection period for 2022. (Round accounts receivable turnover to 2 decimal places, e.g. 25.25 and average collection period to 1 decimal place, e.g. 25.2.) Accounts receivable turnover ratio 4.46 times Average collection period eTextbook and Media List of Accounts 81.8 days
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