Lalig, inc. nad net sales in 2020 of $7,000,000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable $1,250,000, and the allowance for doubtful accounts $12,000 debit. Lang. Inc. estimates that 2% of its accounts receivable will prove to be uncollectible. What is the net realizable value of the receivables reported on the statement of financial position at December 31, 2020? $1,225,000 $1.113,000 $1,114,500 $1,388,500 In its 2019 annual report Tedd Company reported a beginning inventory of $1,100 million, an ending inventory of $1.140 million, net sales of 11,000 million, and cost of goods sold of $8,700 million for the year. Compute average days to sell the inventory for the year. Assume 365 days a year and do not round any intermediate calculations. 37.2 days 46.1 days 47.0 days 47.8 days