Help please.. three part question
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales WalCo $1,785 $2,732 $319,427 TarMart 6,016 6,544 64,878 CostGet 599 635 65,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WaICo, 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 collection period days days days Required information [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 $247,000 Accounts Receivable, December 31, 2021 42,000 Allowance for uncollectible Accounts, December 31, 2021 1,100 (Credit) I Required: 1. Record the adjusting entry for uncollectible accounts using the percentage-ofreceivables method. Suzuki estimates 12% of receivables will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required information [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 $247,000 Accounts Receivable, December 31, 2021 42,000 Allowance for Uncollectible Accounts, December 31, 2021 1,100 (Credit) 2. Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required information [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 $247,000 Accounts Receivable, December 31, 2021 42,000 Allowance for Uncollectible Accounts, December 31, 2021 1,100 (Credit) 3. Calculate the effect on net income (before taxes) and total assets in 2021 for each method. Suzuki estimates 12% of receivables and 3% of credit sales respectively will not be collected. Total assets Net income