The following information is extracted from Shelton Corporations accounting records at the beginning of 2016:

Accounts Receivable	$67,000
Allowance for Doubtful Accounts	1,300	(credit)

During 2016, sales on credit amounted to $582,000, $552,800 was collected on outstanding receivables and $2,600 of receivables were written off as uncollectible. On December 31, 2016, Shelton estimates its bad debts to be 4% of the outstanding gross accounts receivable balance.

	Required:
1.
2.	Prepare the Accounts Receivable section of Sheltons December 31, 2016, balance sheet.
3.	Compute Sheltons receivables turnover. (Round to one decimal place.)

Prepare the Accounts Receivable section of Sheltons December 31, 2016, balance sheet.

Score: 0/11

Shelton Corporation

Partial Balance Sheet

December 31, 2016

1	Accounts Receivable
2	Allowance for Doubtful Accounts
3	Net Accounts Receivable