Current Attempt in Progress The financial statements of Pharoah report net credit sales of $2 milion. Accounts rectivable are $110,000 at the beginning of the year and $280.000 at the end of the year. Calculate Pharoah' accounts receivable turnover and average collection period for accounts receivable in days. (Round accounts receivable turnover to 2 decimal places, s 52.75 and overde collection period to decimal places, . 52. Use 365 days for calculation) Accounts receivable turnover times Average collection period days Windsor Trading uses a perpetual inventory system and the earnings approach to recognize revenue. The company offers credit terms to select customer. The following are transactions of Windsor Trading with some of its customers. Feb. 5 Sold merchandise to Classen for $18,000, terms 1/10, 1/60 6 Classen returned $5,200 of merchandise 11 Wrote off an account receivable from B. Wong of $1.500, after making repeated efforts to collect. 15 Classen paid Windsor the amount owing 28 Collected $990 from a collection agency who managed to collect an account from Marcini that had been previously written off by Windsor Prepare the journal entries to record the above transactions. Ignore any inventory or cont of goods sold entries for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit (To record sale on account.)