hey experts help me in this thnx Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe itwill have any bad debts. (Round orwers to 2 decimal places, e 4.57)Accounts receivable turnovertimesDays to collect accounts receivabledayseTextbook and MediaList of AccountsUse the turnover ratio computed in (b) to analyze Marigold's liquidity. The turnover ratio last year was 65.This is atrend in liquidity,7E Mostly doudy Presented below is information for Marigold Company.1.Beginning of-the year Accounts Receivable balance was $ 18.000.2.Net sales (all on account) for the year were $ 101600. Marigold does not offer cash discounts3.Collections on accounts receivable during the year were $81,100.Prepare (summary) journal entries to record the items noted above. Of no mtry is required, select "No fntry" for the account titlesand enter Ofor the amounts. Credit occanunt titles are autonmaticaly indernteid when the amount is entered. Do not indent maruatly)No. Account Titles and ExplanationDebitCredit1.

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Answered: Compute Marigold's accounts receivable…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round owers to 2 decinsal places, eg 4.57) Accounts receivable turnover times days Days to collect accounts receivable