Exercise 7-16A (Algo) Accounts receivable turnover and average days to collect accounts receivable LO 7.7 The following information is available for Market, Inc. and Supply, Inc. at December 31 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market. Inc $ 59,800 2,748 636,960 Supply, Inc $ 77,200 3,856 897,200 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? Complete this question by entering your answers in the tabs below. Required A Required B Required What is the accounts receivable turnover for each of the companies? (Round your answers to 1 decimal place.) Company Market Supply Accounts Receivable Turnover times times RA Required B > Exercise 7-16A (Algo) Accounts receivable turnover and average days to collect accounts receivable LO 7-7 The following information is available for Market Inc and Supply, Inc. at December 31 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 59,880 2,748 636,960 Supply, Inc 577,200 3,056 897,100 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? Complete this question by entering your answers in the tabs below. Required A Required a Required What is the average days to collect the recevables? (Use 365 days in a yeat Do not found Intermediate calculations. Round your answers to the nearest whole number) Company Market Supply Average Collection Period days days