Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $625,000 in 2022. The company's ending net receivables were $112,000 at December 31, 2020 and $126,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $159,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,900. The company reported Bad Debt Expense of $8,860 during 2022. Required: a. Determine the net receivables at December 31, 2022. b. Calculate the receivables turnover ratio for 2021 and 2022. c. Calculate the days to collect for 2021 and 2022. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the net receivables at December 31, 2022. Net receivables Required A Required B >

Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $625,000 in 2022. The company's ending net receivables were $112,000 at December 31, 2020 and $126,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $159,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,900. The company reported Bad Debt Expense of $8,860 during 2022. Required: a. Determine the net receivables at December 31, 2022. b. Calculate the receivables turnover ratio for 2021 and 2022. c. Calculate the days to collect for 2021 and 2022. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the net receivables at December 31, 2022. Net receivables Required A Required B >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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