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Help me solve this problem: the entire process please. I am not sure what i am missing or is wrong in the calculation: On January $1,2024,$ the general ledger of $3$D Family Fireworks Includes the following account balances:

During January $2024,$ the following transactions occur:

January $2$ Provide services to custoners for cash, $$29,900.$

January $6$ Provide services to custoners on account, $$77,790.$

January $15$ Write off accounts receivable as uncollectible, $$1,100.$

January $20$ Pay cash for salaries, $$34,300.$

January $22$ Receive cash on accounts receivable, $$76,400.$

January $25$ Pay cash on accounts payable, $$4,450.$

January $30$ Pay cash for utilities dur ing January, $$11,390.$

The following information is avallable on January $31,2024.$

At the end of January, $$4,100$ of accounts recelvable are past due, and the company estlmates that $10\%$ of these accounts will not

be collected. Of the remaining accounts recelvable, the company estimates that $5\%$ will not be collected. The note recelvable of

$$25,600$ is considered fully collectible and therefore is not included in the estimate of uncollectible accounts.

Supplies at the end of January total $$640.$

Accrued Interest revenue on notes recelvable for January. Interest is expected to be recelved each December $31.$

Unpald salarles at the end of January are $$28,000.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Requirement

General

General

Income

Statement

Balance Sheet

Using the information from the requirements above, complete the 'Analysis' tab.

Note: Enter your Accounts receivable turnover ratio in $1$ decimal place and Ratio of allowance for uncollectible accounts in

whole percentage.

Analyze how well $3$D Family Fireworks manages its receivables

$($a$)$ Calculate the receivables tumover ratio for the month of January $($Hint: For the numerator, use total services provided

to customers on account$).$ If the industry average of the receivables turnover ratios for the month of January is $4\mathrm{.}2$ times,

is the company collecting cash from customers more or less efficiently than other companies in the same industry?

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