Presented below is information for Marigold Company. 1. 2. Beginning-of-the-year Accounts Receivable balance was $21.500. Net sales (all on account) for the year were $109.100. Marigold does not offer cash discounts. Collections on accounts receivable during the year were $88.900. 3 Your answer is partially correct. Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Credit Debit 1. No Entry No Entry 0 2. Accounts Receivable 109100 Sales Revenue 109100 3. Cash 88900 Accounts Receivable 88900 List of Accounts X Your answer is incorrect. Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round answers to 2 decimal places, e.g. 4.57.) Accounts receivable turnover 5.07 times Days to collect accounts receivable days List of Accounts