Robinson Products Co a major consumer goods company sells more
Robinson Products Co., a major consumer goods company, sells more than 3,000 products in 135 countries. Its report to the Securities and Exchange Commission in 2014 presented the following data:

1. Compute the ratio of uncollectible accounts expense to net sales and to accounts receivable and the ratio of allowance for uncollectible accounts to accounts receivable for 2012, 2013, and 2014. (Round to two decimal places for net sales and one decimal place for accounts receivable.)
2. Compute the receivables turnover and days’ sales uncollected for each year assuming that net accounts receivable in 2011 were $930,000. (Round to one decimal place or to the nearest whole day.)
3. What is your interpretation of the ratios? Describe management’s attitude toward the collectability of accounts receivable over the three-yearperiod.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help