Geisel,Inc

question 123

Essay

Geisel,Inc.reported net sales revenue of $600,000 in 2018 and $500,000 in 2019.The company's average net receivables were $120,000 during 2017 and $130,000 during 2018.At December 31,2019,the company had Accounts Receivable of $148,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,000.The company reported Bad Debt Expense of $6,000 during 2018.
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.

---

Definitions:

Openness

A personality trait that features characteristics of imaginative, curious, and open-minded individuals, often associated with a willingness to experience new things.

Maslow's Ideas

The psychological theories proposed by Abraham Maslow, including the hierarchy of needs, which outlines a progression of human needs from basic to self-actualization.

American Corporations

Business entities incorporated in the United States, known for their influential role in the global economy and culture.

Feelings Of Security

Emotional states characterized by a sense of safety, stability, and confidence in facing life's challenges.