At December 31, 2021. Ivanhoe Imports reported this information on its balance sheet. Accounts receivable...
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At December 31, 2021. Ivanhoe Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $615.000 35.000 During 2022. the company had the following transactions related to receivables 1 Sales on account 2 Sales returns and allowances 3. Collections of accounts receivable 4 Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $2.020,000 50.000 2.720.000 45.000 21.000 Your answer is correct. Enter the January 1 2022. balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. Post entries in the order of journal entries posted in the previous part) Accounts Receivable 615000 21 0000 2720000 45000 Allowance for Doubtful Accounts 25000 2.000 1000 eTextbook and Media List of Accounts Attempts: 1 of 6 used Id 1) Your answer is incorrect. Compute the accounts receivable turnover (Round answer to 1 decimal place ce 124) Accounts receivable turnover times
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