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Geisel. Inc. reported net sales revenue of $524,000 in 2018 and $623,000 in 2019. The company's ending net receivables were $111,000 during 2017 and $128,000
Geisel. Inc. reported net sales revenue of $524,000 in 2018 and $623,000 in 2019. The company's ending net receivables were $111,000 during 2017 and $128,000 during 2018. At December 31, 2019, the company had Accounts Receivable of $147,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,500. The company reported Bad Debt Expense of $7,400 during 2018. Required: a. Determine the net receivables at December 31, 2019. b. Calculate the receivables turnover ratio for 2018 and 2019. c. Calculate the days to collect for 2018 and 2019
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