Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $618,000 in 2022. The company's...

 

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Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $618,000 in 2022. The company's ending net receivables were $125,000 at December 31, 2020 and $136,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $145,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,800. The company reported Bad Debt Expense of $7,460 during 2022. Required: a. Determine the net receivables at December 31, 2022. b. Calculate the receivables turnover ratio for 2021 and 2022. c. Calculate the days to collect for 2021 and 2022. Determine the net receivables at December 31, 2022. Net receivables 139,340 %24 Calculate the receivables turnover ratio for 2021 and 2022. (Round your intermediate calculations and fi decimal place.) 2021 2022 Accounts Receivable Turnover Ratio 2.8 times times Calculate the days to collect for 2021 and 2022. (Round your intermediate calculations and final answers to 1 de Use 365 days a year.) 2021 2022 Days to Collect days days Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $618,000 in 2022. The company's ending net receivables were $125,000 at December 31, 2020 and $136,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $145,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,800. The company reported Bad Debt Expense of $7,460 during 2022. Required: a. Determine the net receivables at December 31, 2022. b. Calculate the receivables turnover ratio for 2021 and 2022. c. Calculate the days to collect for 2021 and 2022. Determine the net receivables at December 31, 2022. Net receivables 139,340 %24 Calculate the receivables turnover ratio for 2021 and 2022. (Round your intermediate calculations and fi decimal place.) 2021 2022 Accounts Receivable Turnover Ratio 2.8 times times Calculate the days to collect for 2021 and 2022. (Round your intermediate calculations and final answers to 1 de Use 365 days a year.) 2021 2022 Days to Collect days days

Answer rating: 100% (QA)

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