Given the following information, compute accounts receivable turnover: (Please round your answer to the 2nd decimal place.) Gross sales $150,000 Accounts receivable, beginning of year $18,000 Sales 135,000 Accounts receivable, end of year 22,000 Your Answer: Answer At the end of the current year, Accounts Receivable has a balance of $550,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,500,000. An analysis of receivables estimates uncollectible receivables as $25,000. Determine the amount of the adjusting entry for bad debt expense. Your