On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Credit Debit $ 25,900 14,600 $ 2,800 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (58, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 3.500 30,000 78,000 9,800 106,000 33, 400 $152.000 $152,000 During January 2021, the following transactions occur January 2 Provide services to customers for cash, $45,100. January 6 Provide services to customers on account, $82,400 January 15 write ott accounts receivable as uncollectible, $2,400 JANUARY 20 Pay cash for salarien, 932,400. January 22 Receive cash on accounts receivable, 580,000 January 25 Pay cash on accounts payable, $6,500. January 30 Pay cash for utilities during January, 514,700. The following information is available on January 31, 2021 3. At the end of January, $6,000 of accounts receivable are past due, and the company estimates that 20% of these accounts will not be collected of the remaining accounts receivable, the company estimates that 5% will not be collected. The note receivable of $30,000 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts. b. Supplies at the end of January total $750. c. Accrued interest revenue on notes receivable for January, Interest is expected to be received each December 31 d. Unpaid salaries at the end of January are $34,500. u. Un pausdites le nos January de 134,500. General Requirement General Income Trial Balance Journal Statement Balance Sheet Ledger Analysis Enter your Accounts Receivable tumover value in 1 decimal place and Ratio of Allowance for Uncollectible Accounts in Whole number Analyze how well 3D Family Fireworks manages its receivables (a) Calculate the receivables tumover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). If the industry average of the receivables turnover ratios for the month of January is 4.3 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover times The company is collecting more eficienty, (true or false) (b) Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at the end of January Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from customers on credit sales? Rabo of Allowance for Uncollectible Accounts to Accounts Receivable de company expect improving or worsening conditions? Improving