The following information is available for Market, Inc. and Supply, Inc. at December 31: Required a. What

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The following information is available for Market, Inc. and Supply, Inc. 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?

Posted Date: Apr 08, 2022 01:29 AM

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The following information is available for Market, Inc. and Supply, Inc. at December 31: Required a. What

Question:

Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 58,000 3,148 626,960 Supply, Inc. $ 77,800 3,056 877,100 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 58,000 3,148 626,960 Supply, Inc. $ 77,800 3,056 877,100

Expert Answer:

a Accounts receivable turnoverSales revenueAccounts receivable Fo... View the full answer

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