only need help on finding the recievables turnover ratio for january

thanks!

Required information Exercise 5-21 Complete the accounting cycle using receivable transactions (LO5-1,5-4,5-5,5-7,5-8) (The following information applies to the questions displayed below) On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (64, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals Debit Credit $ 27,300 15,308 $ 4,200 4,200 21,000 88,600 9,100 101,000 34,100 $148,400 $148,400 During January 2021, the following transactions occur January 2 Provide services to customers for cash, $52,100. January 6 Provide services to customers on account, $89,400. January 15 Write oft accounts receivable as uncollectible, $3,900. January 20 Pay cash for salaries, $33,100. January 22 Receive cash on accounts receivable, $87,800. January 25 Pay cash on accounts payable, $7,200. January 30 Pay cash for utilities during January, $15,400. Exercise 5-21 Part 7 7. Analyze how well 3D Family Fireworks manages its receivables: -1. Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). (Round your final answer to 1 decimal place.) Answer is complete but not entirely correct. 130 a-2. If the Industry average of the receivables turnover ratios for the month of January is 5.2 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? More Less Exercise 5-21 Part 5 5. Prepare a classified balance sheet as of January 31, 2021. (Deductible amount should be indicated with by a minus sign.) 3D Family Fireworld Balance Sheet January 31, 2021 Liabilities s Assets Current Assets Cash Accounts Receivable Allowance for Uncollectible Accounts Interest Receivable Supplies $ Current Liabilities: Accounts Payable Salaries Payablo 110,700 13,800 (1,380) DO 1,900 35,200 105 800 Total Current Liabilities 37.100 124.025 37.100 Total Current Assets Long-term assets: Notes Receivable Land Total Liabilities Stockholders' Equity Common Stock Retained Earnings 101,000 21.000 B0,600 87,525 Total Stockholders' Equity Total Liabilities & Stockholders' Equity 188,525 225,625 Total Assets $ 225,625 $ 4. Prepare an income statement for the period ended January 31, 2021 3D FAMILY FIREWORKS Income Statement For the year anded January 31, 2021 Rovenues: Service Revenue 141,500 Interest Revenue 105 Total Revenues $ 141,605 Expenses Salaries Expense Utilities Expense Supplies Expense Bad Debt Expense 68,300 15,400 3,400 1,080 Total Expenses Net Income 88,180 $ 53,425 3D FAMILY FIREWORKS Adjusted Trial Balance January 31, 2021 Accounts Dabit Credit ed Cash $ 110,700 13,800 1,380 105 800 21,000 80,600 Accounts Receivable Allowance for Uncollectible Accounts Interest Receivable Supplies Notes Receivable Land Accounts Payable Salaries Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Bad Debt Expense Supplies Expense Utilities Expense Totals 1,900 35,200 101,000 34,100 141,500 105 68,300 1,080 + 3,400 15,400 $ 315,185 $ 315,185 c. Accrued interest revenue on notes recelvable for January. Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $35,200. 2. Record adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction "No Journal Entry Required" in the first account field.) No Date Dobit Credit 1 January 31 General Journal Bad Debt Expense Allowance for Uncollectible Accounts 1,080 1,080 2 January 31 3,400 Supplies Expense Supplies > 3,400 3 January 31 105 Interest Receivable Interest Revenue 105 4 January 31 35,200 Salaries Expense Salaries Payable 35,200 In the Occount neid.) No Date General Journal Dobit Credit 1 January 02 52,100 Cash Service Revenue 52,100 2 January 06 Accounts Receivable Service Revenue 89,400 SI 89,400 3 January 15 3,900 Allowance for Uncollectible Accounts Accounts Receivable e 3,900 4 January 20 Salaries Expense Cash 33,100 33,100 5 January 22 Cash 87,000 Accounts Receivable 87,000 6 January 25 7,200 Accounts Payable Cash 7,200 7 January 30 > Utilities Expense Cash 15,400 15,400