Two quistion

Question 1: Hachey, Company has accounts receivable of $95,100 at March 31, 2022. An analysis of the accounts shows these amounts. Credit terms are 2/10,n/30. At March 31, 2022, there is a $2,500 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below Instructions (a) Determine the total estimated uncollectible accounts receivable. (b) (c) Prepare the adjusting entry at March 31, 2022 to record bad debts expense. Question 2: The following information is available from the annual reports of Nitc and Day Companies. (In millionel (a) Based on the preceding information, compute the following for each company: 1. Accounts recervable turnover. (Assume all sales were credit sales.) 2. Average collection period (b) What conclusion concerning the management of accounts receivable can be drawn from these data