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.

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Definitions:

Causal

Relating to or acting as a cause; implying a relationship where one factor or event is responsible for triggering another factor or consequence.

Data Warehouse

A central repository for storing, managing, and analyzing large volumes of data from various sources.

External Data Sources

Information collected from outside an organization for analysis, including market trends, competitor data, and economic indicators.

Internal Data Sources

Information collected from within an organization, such as sales records, customer feedback, and inventory levels, used for decision-making and strategic planning.