Question Help E5-23A (similar to) Chippewa Corporation reported the folowing items at December 31, 2018, and 2017: TI(Click the loon to view the comparative financial information) Read the requirements 0.71 Requirement 1. Compute the company's (m) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evalute each wo value as strong or weak. Al sales are on account with terms of net 30 days a) Enter the formula and calculate the quick (citos) rotio for 2018. (Abbreviation used Cash Cash and cash equivalents Round your final answer to two decimal places) Cashy Short-term investments Not current receivables Total current la Quick (acid-test ratio + 36,000 121,000 Chippewa's quick (acid fost) ratio is considered fairly weak b) Select the formula and calculate Chippewa's days'sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX Round the days' sales outstanding up to the next whole day) 365 days Accounts receivable turnover Days' sales outstanding 365 1 At the end of the current year before ingerie Beach Corporation had a balance of 1.000 in Accounts Receivable and a credence of 12.000 in lowance for Uncolectie Account Service was once for the 40.000 Read the requirements Requirement 1. Using the percent of sales method, calculate the amount of Unclette Account Expense Beach Corporation estimates suncobloccount expense using a rate of of credits What is the ending tource of Allowance for Uncolectie Accounts under his scenario? Beach Corporation has 13.200 of uncotec-ccount expense using the percent of a method. The ending balance of the Allowance for Uncollectible Account is $ 25.200 under this sonario Requirement 2. Now assume that Beach Corporation uses the aging of receivable method Beach Corporation estimates that is lowance for Uncolectie Accounts should have a credit bancs of $25.000 Cache amount of its Uncollectible Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Beach Corporation has of uncolectible-account expense using the aging-of-receivable method. The ending balance of the Allowance for Uncle Account is 5 under this scenario