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Use the following information to answer the three questions below.   Accounts Receivable section of Data &...

Use the following information to answer the three questions below.  

Accounts Receivable section of Data & Company's balance sheet:

Date & Company

Balance Sheet (Partial)

January 1, 2022

Accounts Receivable 750,000

Less: Allowance for Doubtful Accounts 50,000

Net Accounts Receivable 700,000

During 2022, the company had the following transactions related to receivables:

a. Sales on account 8,500,000
b. Sales returns 75,000
c.

Collected on receivables with a gross value of : (excludes 2% discount taken by customers)

 7,000,000
d. Wrote off accounts receivable deemed uncollectible 50,000
e. Recovery of bad debts previously written off 5,000
f. Data & Co. estimates that 2% of the year-end accounts receivable will be uncollectible.

What is the year-end balance for Allowance for Doubtful Accounts (use whole numbers)?  

What is the account receivable turnover for 2022 (round to 1 decimal point) (Hint: Calculate the Net Sales number. Do not forget to consider the sales discount in "c" above)?  

What is the average collection period for 2022 (round to 1 decimal point)?

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