Part 4: Accounts Receivable Ratios Jerry's Wedding Cakes had revenue of $103,500 and gross profit of $76,550 during 2019. Jerry's Wedding Cakes had the following accounts receivable and allowance for doubtful accounts balances: Accounts receivable on December 31, 2018 = $8,950 Allowance for doubtful accounts on December 31, 2018 = $480 Accounts receivable on December 31, 2019 = $11,025 Allowance for doubtful accounts on December 31, 2019 = $520 1. Calculate the accounts receivable turnover ratio for Jerry's Wedding Cakes on December 31, 2019. 2. On average, how many days does it take Jerry's Wedding Cakes to collect from its customers? 3. When Jerry's Wedding Cakes issues invoices to customers, they give the customers 30 days to pay. Assess how successful Jerry's Wedding Cakes is at collecting from customers on time. 4. Suppose that a bakery down the street from Jerry's has average days to collect of 20 days. Which company is doing better