Presented below is information for Tamarisk Company. 1. Beginning-of-the-year Accounts Receivable balance was $21,500. 2. Net sales (all on account) for the year were $109.100. Tamarisk does not offer cash discounts. 3. Collections on accounts receivable during the year were $88.900. 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 Debit Credit e Textbook and Media List of Accounts Compute Tamarisk'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, eg. 4.57.) Accounts receivable turnover times Days to collect accounts receivable days e Textbook and Media List of Accounts Use the turnover ratio computed in (b) to analyze Tamarisk's liquidity. The turnover ratio last year was 6.2. This is a trend in liquidity. e Textbook and Media List of Accounts