The following information is available for Market Inc. and Supply Inc. at December 31, 2012: Required a.

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The following information is available for Market Inc. and Supply Inc. at December 31, 2012:

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a. What is the accounts receivable turnover for each of the companies for 2012 ?

b. What is the average days to collect the receivables for 2012?

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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Fundamental Financial Accounting Concepts

ISBN: 978-0073527123

7th Edition

Authors: Thomas Edmonds

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Question Posted: May 16, 2024 02:02 AM

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The following information is available for Market Inc. and Supply Inc. at December 31, 2012: Required a.

Question:

Accounts Accounts Receivable Allowance for Doubtful Accounts Sales Revenue Market, Inc. Supply, Inc. $ 56,200 2,248 606,960 $ 75,400 2,256 867,100

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Fundamental Financial Accounting Concepts

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