during its first year of opeations, cullumber company had a credit sales of 3,900,000 of which $420,000 remained uncollected at year end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Calculate the accounts receivable turnover and average collection period. Assume the average net accounts receivable were $390,000. (Use 365 days for calculation. Round average collection period to 1 decimal place)

During its first year of operations, Cullumber Company had credit sales of $3,900,000, of which $420,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Calculate the accounts receivable turnover and average collection period. Assume that average net accounts receivable were $390,000. (Use 365 days for calculation. Round average collection period to 1 decimal place, e.g. 15.1.) Accounts receivable turnover Average collection period times days