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During 2020, Jesse Jericho Enterprises Corporation recorded credit sales of $730,000. At the beginning of the year, Accounts Recelvable, Net of Allowance was $83,000. At
During 2020, Jesse Jericho Enterprises Corporation recorded credit sales of $730,000. At the beginning of the year, Accounts Recelvable, Net of Allowance was $83,000. At the end of the year, after the Bad Debt Expense adjustment was recorded but before any bad debts had been written off, Accounts Receivable. Net of Allowance was $44,500. Required: 1. Assume that on December 31,2020 , accounts receivable totalling $9,000 for the year were determined to be uncollectible and written off. What was the recelvables turnover ratio for 2020 ? (Round your onswer to 1 decimal place.) 2. Assume instead that on December 31,2020,$12.000 of accounts receivable was determined to be uncolfectible and written off What was the recelvables turnover ratio for 2020 ? (Round your answer to 1 decimal place.)
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