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Geisel, Inc. reported net sales revenue of $524,000 in 2015 and $628,000 in 2016. The company's average net receivables were $114,000 during 2014 and $135,000
Geisel, Inc. reported net sales revenue of $524,000 in 2015 and $628,000 in 2016. The company's average net receivables were $114,000 during 2014 and $135,000 during 2015. At December 31, 2016, the company had Accounts Receivable of $148,000. and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,800. The company reported Bad Debt Expense of $9,860 during 2016. Required a. Determine the net receivables at December 31, 2016. Net receivables b. Calculate the receivables turnover ratio for 2015 and 2016. (Round your intermediate calculations and final answers to 1 decimal place. Use 365 days a year.) 2015 2016 Accounts Receivable Turnover Ratio c. Calculate the days to collect for 2015 and 2016. (Round your intermediate calculations and final answers to 1 decimal place. Use 365 days a year.) 2015 2016 Days to Collect
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