Use the following information to answer the three questions below Accounts Receivable section of Data Company's balance sheet Date Company Balance Sheet (Partial) January 1, 2022 Accounts Receivable 750,000 Less Allowance for Doubtful Accounts 50,000 Net Accounts Receivable 700,000 During 2022, the company had the following transactions related to receivables a Sales on account 8,500,000 b Sales returns 75,000 c Collected on receivables with a gross value of (excludes 2 discount taken by customers) 7,000,000 d Wrote off accounts receivable deemed uncollectible 50,000 e Recovery of bad debts previously written off 5,000 f Data Co estimates that 2 of the year end accounts receivable will be uncollectible What is the year end balance for Allowance for Doubtful Accounts (use whole numbers) What is the account receivable turnover for 2022 (round to 1 decimal point) (Hint Calculate the Net Sales number Do not forget to consider the sales discount in c above) What is the average collection period for 2022 (round to 1 decimal point)

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Question: Use the following information to answer the three questions below. Accounts Receivable section of Data & Company's balance sheet: Date & Company Balance Sheet (Partial)

Use the following information to answer the three questions below.

Accounts Receivable section of Data & Company's balance sheet:

Date & Company

Balance Sheet (Partial)

January 1, 2022

Accounts Receivable 750,000

Less: Allowance for Doubtful Accounts 50,000

Net Accounts Receivable 700,000

During 2022, the company had the following transactions related to receivables:

a.	Sales on account	8,500,000
b.	Sales returns	75,000
c.	Collected on receivables with a gross value of : (excludes 2% discount taken by customers)	7,000,000
d.	Wrote off accounts receivable deemed uncollectible	50,000
e.	Recovery of bad debts previously written off	5,000
f.	Data & Co. estimates that 2% of the year-end accounts receivable will be uncollectible.

What is the year-end balance for Allowance for Doubtful Accounts (use whole numbers)?

What is the account receivable turnover for 2022 (round to 1 decimal point) (Hint: Calculate the Net Sales number. Do not forget to consider the sales discount in "c" above)?

What is the average collection period for 2022 (round to 1 decimal point)?

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