Selected data from Benson Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for...

 

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Selected data from Benson Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Net credit sales Net cash sales Net sales 2018 $408,000 (20,400) $387,600 $481,000 Income Statement For the Years Ended December 31 Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses a. Accounts receivable turnover b. Inventory turnover c. Net margin Required a. Compute the accounts receivable turnover for 2018. b. Compute the inventory turnover for 2018. c. Compute the net margin for 2017. times times % 2017 $373,000 (14,920) $358,080 $445,000 (For all requirements, round your answers to 2 decimal places.) 2018 $2,012,000 411,000 2,423,000 1,596,000 239,900 39,500 $1,875,400 2017 $1,752,000 308,000 2,060,000 1,438,000 214,600 22,900 $1,675,500 Selected data from Benson Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Net credit sales Net cash sales Net sales 2018 $408,000 (20,400) $387,600 $481,000 Income Statement For the Years Ended December 31 Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses a. Accounts receivable turnover b. Inventory turnover c. Net margin Required a. Compute the accounts receivable turnover for 2018. b. Compute the inventory turnover for 2018. c. Compute the net margin for 2017. times times % 2017 $373,000 (14,920) $358,080 $445,000 (For all requirements, round your answers to 2 decimal places.) 2018 $2,012,000 411,000 2,423,000 1,596,000 239,900 39,500 $1,875,400 2017 $1,752,000 308,000 2,060,000 1,438,000 214,600 22,900 $1,675,500

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a Compute accounts receivable turnover for 2018 Net credit sales A... View the full answer