Question: Exercise 7 - 1 6 A ( Algo ) Accounts receivable turnover and average days to collect accounts receivable LO 7 - 7 The following

Exercise 7-16 A (Algo) Accounts receivable turnover and average days to collect accounts receivable LO
7-7
The following information is available for Market, Incorporated and Supply, Incorporated at December 31.
Required
a. What is the accounts receivable turnover for each of the companies?
b. What is the average days to collect the receivables?
c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible
accounts for each company?
Exercise 7-16 A (Algo) Accounts receivable turnover and average days to

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