! Required information (The following information applies to the questions displayed below.) On January 1, Year 1, the general ledger of a company includes the following account balances: Accounts Debit Credit Cash $ 26,900 Accounts Receivable 15,100 Allowance for Uncollectible Accounts $ 1,550 Supplies 4,000 Notes Receivable (6%, due in 2 years) 19,000 Land 80,400 Accounts Payable 10,950 Common Stock 99,000 Retained Earnings 33,900 Totals $145,400 $145,400 During January Year 1, the following transactions occur January 2 Provide services to customers for cash, $50,100. January 6 Provide services to customers on account, $87,400. January 15 Write off accounts receivable as uncollectible, $3,500. January 20 Pay cash for salaries, $32,900. January 22 Receive cash on accounts receivable, $85,000. January 25 Pay cash on accounts payable, $7,000. January 30 Pay cash for utilities during January, $15,200. 7. Analyze how well a company manages its receivables: a-1. Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). (Round your final answer to 1 decimal place.) The receivables turnover ratio is