Geisel, Inc. reported net sales revenue of $511,000 in 2018 and $619,000 in 2019. The...
70.2K
Verified Solution
Question
Accounting
Geisel, Inc. reported net sales revenue of $511,000 in 2018 and $619,000 in 2019. The company's ending net receivables were $116,000 during 2017 and $123,000 during 2018. At December 31, 2019, the company had Accounts Receivable of $156,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1000. The company reported Bad Debt Expense of $7,410 during 2019. Required: a. Determine the net receivables at December 31, 2019. b. Calculate the receivables turnover ratio for 2018 and 2019. c. Calculate the days to collect for 2018 and 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the net receivables at December 31, 2019 Net receivables Geisel, Inc. reported net sales revenue of $511,000 in 2018 and $619,000 in 2019. The company's ending net receivables were $116,000 during 2017 and $123,000 during 2018 At December 31, 2019, the company had Accounts Receivable of $156,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,000. The company reported Bad Debt Expense of $7,410 during 2019. Required: a. Determine the net receivables at December 31, 2019, b. Calculate the receivables turnover ratio for 2018 and 2019. c. Calculate the days to collect for 2018 and 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the receivables turnover ratio for 2018 and 2019. (Round your intermediate calculations and final answers to 1 decimal place. Use 365 days a year) Accounts Receivable Turnover Ratio 2018 times 2019 times Geisel, Inc. reported net sales revenue of $511,000 in 2018 and $619,000 in 2019. The company's ending net receivables were $116.000 during 2017 and $123,000 during 2018. At December 31, 2019, the company had Accounts Receivable of $156,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,000. The company reported Bad Debt Expense of $7410 during 2019 Required: a. Determine the net receivables at December 31, 2019. b. Calculate the receivables turnover ratio for 2018 and 2019. c. Calculate the days to collect for 2018 and 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the days to collect for 2018 and 2019. (Round your intermediate calculations and final answers to 1 decimal place Use 365 days a year.) 2018 2019 Days to Collect days days



Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.