Having trouble with Part C.

Will rate if answer is correct and explanation is given.

*Brief Exercise 8-11 a-c2 (Part Level Submission) During its first year of operations, Fertig Company had credit sales of $3,000,000, of which $400,000 remained uncollected at year-end. The credit manager estimates that $18,000 of these receivables will become uncollectible. *(a) Your answer is correct Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense 18000 Allowance for Doubtful Accounts 18000 Attempts: 1 of 10 used *(b) Your answer is correct. Prepare the current assets section of the balance sheet for Fertig Company, assuming that in addition to the receivables it has cash of $90,000, merchandise inventory of $180,000, and supplies of $13,000. (List Current Assets in order of liquidity) FERTIG COMPANY Ralance Sheet (partial) December 31, 2022 Current Assets Cash $190000 Accounts Receivable s1400000 Less: Allowance for Doubtful Accounts 18000 382000 Inventory 1180000 Supplies 13000 Total Current Assets $1665000 *(c1) Your answer is incorrect. Try again. Calculate the accounts receivable turnover. Assume that average net accounts receivable were $300,000. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover 1.9 times