Receivables 1. 2. 3. 4. 5. Look in the Notes to the Financial Statements. What type of receivables does this company have? Imagine that this company makes a sale of its product. Describe a possible sales transaction and list the journal entry that the company would make to recognize the sale (assume the sale is on account.) For this assignment, ignore the cost of goods sold entry. What do you know about the company's Allowance for Uncollectible Accounts? What name does the company call its allowance? Where in your company's 10-K do you find this information? What is the gross amount of the company's receivables? What percentage of this gross is its allowance? Calculate and interpret these ratios for two years (show your calculations): 1. Current ratio 2. Quick ratio Calculate and interpret these ratios for one year, assuming all sales are on credit(show your calculations): 6. 1. 2. Accounts Receivable Turnover Receivable Collection Period