Question
Complete the highlighted portions of the Accounts Receivable turnover ratio table included in the second worksheet (tab) in file Superstore Data.xls including calculating the SuperStore's
Complete the highlighted portions of the Accounts Receivable turnover ratio table included in the second worksheet (tab) in file "Superstore Data.xls" including calculating the SuperStore's A/R turnover ratios for 2015, 2016, and 2017.
Accounts Receivable Turnover Ratio 2014 2015 2016 2017 Gross Sales (after Trade Discounts) 419,382.49 Less: Allowance for Sales Returns (Gross Sales x 5%) 20,969.12 Net Sales 398,413.37 Gross Ending A/R 110,822.78 Allowance (Gross A/R x 2%) 2,216.46 Net Ending A/R 108,606.33 Inventory Turnover Ratio N/A
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