What is the receivable turnover ratio in question 3?

At December 1, 2020, Imalda Inc. reported the following Information on Its statement of financial position: The following transactions were completed during December 2020 : December 5 sold merchandise items for $67,900. An amount of $19,900 was received in cash and the rest on account; terms 2/1,n/60. The total cost of sales was $35,00. December 12 collected cash for half of the credit sales made on December 5. December 20 collected $90,900 in cash from customers for credit sales made in November 2020. December 26 One of Imalda's customers that owed $3, ebe to the company experienced financial problems and was forced to close its business in December. The full amount was considered uncollectible. Imalda uses the aging of accounts recelvable method to determine bad debt expense. The aging schedule at December 31,2020 , gives the following information about the accounts recelvable estimated uncollectible: Required: 1. Prepare the journal entries to record the transactions that occurred in December 2020 . (If no entry Is required for a trensectlon/event, select "No journal entry required" In the flrst account fleld.) 2-a. Using the aging schedule, compute the bad debt expense for December 2020 . 2-b. Prepare the journal entry to record bad debt expense for December 2020 . (If no entry ls requlred for a transectlon/event, seled "No Journal entry requlred" In the flrst account fleld.) 3. Compute the gross profit percentage and the receivables turnover ratio for December 2020 . (Round the final answers to 2 decimal pleces.) Answer is not complete. \begin{tabular}{|l|l|l|} \hline & & \\ \hline Gross profit percentage & 47.38 & % \\ \hline Receivable turnover ratio & & times \\ \hline \end{tabular}