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please please someone help asap At January 1, 2025, Pembina Imports Inc, reported this information on its balance sheet. During 2025, the company had the
please please someone help asap
At January 1, 2025, Pembina Imports Inc, reported this information on its balance sheet. During 2025, the company had the following summary transactions related to receivables and sales. Pembina uses the perpetual inventory system. Pembina expects a return rate of 3%, 1. Sales on account amounted to $2,800,000. The cost of the inventory sold was $2,100,000. 2. Goods with a total sales price of $44,800 and a cost of $33,600 were restored to inventory. 3. Collections of accounts receivable were $2,464,000. 4. Write-offs of accounts receivable deemed uncollectible, $50,400. 5. Recovery of credit losses previously written off as uncollectible, $16,800. Calculate the receivables turnover ratio and average collection period. (Round receivables turnover to 1 decimal ploce, e.g. 5.2. Round averoge collection period to nearest whole day, e.g. 15.) Receivables turnover ratio times Average collection period days eTextbook and Media Step by Step Solution
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