Reguired informotion Exciclse 5-21 (Algo) Complete the accounting cycle using receivable transactions (LO5-1, 5-4, 5-5, 5-7, 5-8) [Therfilowing infortution applies to the questions displayed below] On Lanuary 1. 202A. the general ledger of 30 Family. Fireworks includes the following account balances. Deaing January 2024 , the following transactions occur: Manuaryiz Droulde semulees to rwscomens foricos, 554,100 , lanupery of Wryvide services to custoeers on account, $91,400. Janiary 20 Pay cash for salaries, 51}, 100. Jangary, 30 bay rash for utilities dening Jenuary, $15,600. 7. Analyze how well 3D Fanty Fireworks manages its recelvables: o-1. Calculate the receivables tamower tatio for the month of Jonuary. (fint for the namerator, use total services prowided fo customers an account) (Round your finel answer to 1 decimal place.) Q.2. If the industry overage of the recelvables tumover ratios for the month of January is 5.4 times, is the company collecting cash from customers more or hess efficiently than other companies in the same industry? b-1. Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Recelvable of the end of January. (Round percentege to 1 decimal ploce.) b-2. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvernem or worseraing in castr collections from castomers on credit sales? Reguired informotion Exciclse 5-21 (Algo) Complete the accounting cycle using receivable transactions (LO5-1, 5-4, 5-5, 5-7, 5-8) [Therfilowing infortution applies to the questions displayed below] On Lanuary 1. 202A. the general ledger of 30 Family. Fireworks includes the following account balances. Deaing January 2024 , the following transactions occur: Manuaryiz Droulde semulees to rwscomens foricos, 554,100 , lanupery of Wryvide services to custoeers on account, $91,400. Janiary 20 Pay cash for salaries, 51}, 100. Jangary, 30 bay rash for utilities dening Jenuary, $15,600. 7. Analyze how well 3D Fanty Fireworks manages its recelvables: o-1. Calculate the receivables tamower tatio for the month of Jonuary. (fint for the namerator, use total services prowided fo customers an account) (Round your finel answer to 1 decimal place.) Q.2. If the industry overage of the recelvables tumover ratios for the month of January is 5.4 times, is the company collecting cash from customers more or hess efficiently than other companies in the same industry? b-1. Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Recelvable of the end of January. (Round percentege to 1 decimal ploce.) b-2. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvernem or worseraing in castr collections from castomers on credit sales
