Exercise 5-20A Compare the percentage-of-receivables method and the percentage-of-credit-sales method (LO5-9) (The following information applies to the questions displayed below.) Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 Accounts Receivable, December 31, 2021 Allowance for Uncollectible Accounts, December 31, 2021 $250,000 45,000 1,000 (debit) kercise 5-20A Part 1 quired: Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 10% of ceivables will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the st account field.) View transaction list Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal Exercise 5-18A Calculate receivables ratios (LO5-8) Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable $1,735 5,766 549 Ending Accounts Receivable $2.682 6,294 585 Walco TarMart CostGet Net Sales $314,427 59,878 60,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio [ Average accounts receivable Net sales = Walco TarMart CostGet Receivables turnover ratio 0 times 0 times O times Average Collection Period Walco TarMart CostGet Average collection period 0 days 0 days 0 days 2. Which company appears most efficient in collecting cash from sales? o Walco O TarMart CostGet