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Estimating Uncollectible Accounts and Reporting Accounts Receivable Mohan Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories

Estimating Uncollectible Accounts and Reporting Accounts Receivable Mohan Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Mohan computes a total of $2,940 in estimated uncollectible accounts as of its current yearend. Its accounts receivable has a balance of $120,400, and its allowance for uncollectible accounts has an unused balance of $980 before any yearend adjustments. a. What amount of bad debt expense will Mohan report in its income statement for the current year? $Answer b. Determine the net amount of accounts receivable reported in current assets at yearend. $Answer -------------------

Evaluating Accounts Receivable Turnover for Competitors The Procter & Gamble Company and Colgate-Palmolive Company report the following sales and accounts receivable balances.

$ millions Procter & Gamble Colgate-Palmolive
2018 Net sales $66,832 $15,544
2018 Accounts receivable 4,217 1,260
2017 Accounts receivable 4,135 1,332

a. Compute the accounts receivable turnover and DSO for both companies for 2018. Note: Do not round until your final answer. Note: Round your final answers to one decimal place (for example, enter 6.8 for 6.77555).

Procter & Gamble Colgate-Palmolive
AR turnover Answer

Answer

DSO Answer

Answer

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