46. The following information is from the records of ArmadilloCamera Shop:

Accounts receivable, December 31, 2017	$80,000 (debit)
Net credit sales for 2017	163,000
Accounts written off as uncollectible during 2017	18,000
Cash sales during 2017	42,000

The company uses the direct write-off method for baddebts. What is the amount of bad debts expense?

A.$42,000

B.$18,000

C.$65,000

D. $80,000

47. Blanchard, Inc. provided the following for 2017:

Cost of Goods Sold (Cost of sales)	$1,200,000
Beginning Merchandise Inventory	325,000
Ending Merchandise Inventory	625,000

Calculate the company's inventory turnover ratio for theyear. (Round your answer to two decimal places.)

48. Financial analysts perform reviews of companies to ensurecompliance to rules and regulations.

True

False

49. The days' sales in inventory ratio is calculatedby dividing cost of goods sold by the average merchandiseinventory. (T/F)

Answer rating: 100% (QA)

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