The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Supply, Incorporated...
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The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Supply, Incorporated $ 76,000 2,756 897,100 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Incorporated $60,400 2,348 646,960 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? The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Supply, Incorporated $ 76,000 2,756 897,100 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Incorporated $60,400 2,348 646,960 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?
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Answer rating: 100% (QA)
To calculate the required values well use the following formulas a Accounts Receivable Turnover Sale... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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