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During January 2024 , the following transactions occur: January 2 provide nerviess to eustomers for eash, $38,100, January 6 provide servicen to evetoners on account,
During January 2024 , the following transactions occur: January 2 provide nerviess to eustomers for eash, $38,100, January 6 provide servicen to evetoners on account, 875,400. method) January 20 Vay cash for salaries, 831,700. January 22 Recelve eash on accounti recelvable, $73,000. January 25 Pay cash on accounts payable, 55,400 . January 30 pay cash for utilities doring January, 514,000 . 7. Analyze how well 30 Family Fireworks manages its recelvables: a-1. Calculate the receYables turnover ratio for the month of January. (Hint: For the numerator, use total services provided to customers on account) (Round your final answer to 1 decimal place.) a-2. If the industry average of the recelvables turnover ratios for the month of January is 4.1 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? b-1. Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at the end of January. (Round percentage to 1 decimal place.) b-2. Based on a comparison of this fatio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from customers on credit sales
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