Please do not give solution in image format thanku Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles informationprovided in (c). (Round answers to 1 decimal place, e.g. 25.2. Use 365 days for calculation.)Accounts receivable turnoverAverage collection periodtimesdays At December 31, 2021, Suisse Imports reported this information on its balance sheet.Accounts receivableLess: Allowance for doubtful accountsDuring 2022, the company had the following transactions related to receivables.1.2.3.4.5.$600,00037,000Sales on accountSales returns and allowancesCollections of accounts receivableWrite-offs of accounts receivable deemed uncollectibleRecovery of accounts previously written off as uncollectible$2,500,00050,0002,200,00041,00015,000

1. Net sales = Sales- Sales return2. Average Account receivables = (Opening Account receivables+…

Answered: Compute the accounts receivable…

Business

Accounting

Compute the accounts receivable turnover and average collection period, a

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4BE

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Concept explainers

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

Please do not give solution in image format thanku

Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles information
provided in (c). (Round answers to 1 decimal place, e.g. 25.2. Use 365 days for calculation.)
Accounts receivable turnover
Average collection period
times
days

At December 31, 2021, Suisse Imports reported this information on its balance sheet.
Accounts receivable
Less: Allowance for doubtful accounts
During 2022, the company had the following transactions related to receivables.
1.
2.
3.
4.
5.
$600,000
37,000
Sales on account
Sales returns and allowances
Collections of accounts receivable
Write-offs of accounts receivable deemed uncollectible
Recovery of accounts previously written off as uncollectible
$2,500,000
50,000
2,200,000
41,000
15,000

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