i got everything correct except Accounts receivable turnover ratio. can you help me figure out? pls show the process.
Problem 8-1A At December 31, 2018, Pina Colada Corp. reported the following information on its balance sheet. Accounts receivable $952,000 Less: Allowance for doubtful accounts 84,000 During 2019, the company had the following transactions related to receivables. 1. Sales on account $3,869,890E 2. Sales returns and allowances 51,000 3. Collections of accounts receivable 2,831,000 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 28,000 87,000 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. No Account Titles and Explanation Debit Credit Accounts Receivable Sales Revenue 2. Sales Returns and Allowances T Accounts Receivable BE 3. Cash Accounts Receivable 4. Allowance for Doubtful Accounts Accounts Receivable 5. Accounts Receivable 1 Allowance for Doubtful Accounts (To reverse account previously written off) Tcash 21000 Accounts Recevable (To record the collection of accounts receivable) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. Enter the January 1, 2019, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-ace Accounts Receivable 952000 51000 2831000 87000 28000 Allowance for Doubtful Accounts 84000 28000 25000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. the journal entry to record bad debt expense for 2019, assuming that an aging of accounts receive 2019. ssuming that an aging of accounts receivable indicates that expected bad debts are Account Titles and Explanation Debit Credit Bad Debt Expense 247880 T Allowance for Doubtful Accounts Your answer is incorrect. Try again, divade turnover for 2019 ming the expected bad debt information provided (Round answer to 2 decimal place Accounts receivable turnover ratio 14.44 times Click if you would like to show Work for this questionDoen Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT