Question: Using transactions listed in E6-5, indicate the effects of each transaction on the liquidity metric days' sales in receivables and profitability metric return on sales.

Using transactions listed in E6-5, indicate the effects of each transaction on the liquidity metric days' sales in receivables and profitability metric return on sales.
In E6-5
July 3 Received $2,500 on an account and wrote off the remainder owed of $11,000 as uncollectible.
Oct. 8 Reinstated the account that had been written off on July 3 and received $11,000 cash in full payment.

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