(D2)

Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4. Use 365 days for calculation.)

4. Allowance for Doubtful Accounts Accounts Receivable 5. Accounts Receivable Allowance for Doubtful Accounts (To reinstate account previously written off) Cash Accounts Receivable (To record collection of accounts receivable) At December 31, 2024, Oriole Imports reported this information on its balance sheet. During 2025 , the company had the following transactions related to receivables. Prepare the journal entry to record bad debt expense for 2025 , assuming that aging the accounts receivable indicates that estimated bad debts are $51,000. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) v 2810000 (5) Bal. v (3) (4) v (5) v 813000 2510000 Allowance for Doubtful Accounts Bal. 42000 (5) v 15000 Bal. 13000 Your answer is correct. Enter the January 1, 2025, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) Accounts receivable turnover times