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Take me to the text The following information relevant to accounts receivable is presented for Dommar Company (in thousands of dollars). Calculate the accounts
Take me to the text The following information relevant to accounts receivable is presented for Dommar Company (in thousands of dollars). Calculate the accounts receivable turnover ratio, and the day sales outstanding ratio for the years 2019 and 2020. Do not enter dollar signs or commas in the input boxes. For accounts receivable turnover, round to one decimal place. For day sales outstanding, round to the nearest whole number. 2020 2019 2018 Accounts Receivable $382 $513 $546 Allowance for Doubtful Accounts $18 $22 $23 Net Credit Sales $3,159 $3,837 $3,888 Accounts Receivable Turnover (in number of times) x Day Sales Outstanding (in days) On January 2, 2021, Dommar Company agreed to sell $171,000 of its accounts receivable with a 4% fee paid to the factor. Prepare the journal entry to record the factoring of accounts receivable. Do not enter dollar signs or commas in the input boxes. Enter the debit accounts in alphabetical order. Date Account Title and Explanation Jan 2 Cash Debit Credit 164160 6840 171000 Factoring Expense Accounts Receivable To record sale of accounts receivable
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