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**PROVIDE AN EXPLAINATION FOR THE RATIOS Accounts Receivable Estimate of potential understatement in allowance Year 2013 2012 2011 Sales 150,737,628 148,586,037 144,686,413 Average Accounts Receivable
| **PROVIDE AN EXPLAINATION FOR THE RATIOS Accounts Receivable | ||||
| Estimate of potential understatement in allowance | Year | |||
| 2013 | 2012 | 2011 | ||
| Sales | 150,737,628 | 148,586,037 | 144,686,413 | |
| Average Accounts Receivable | 10,831,011 | 8,278,133 | 7,936,409 | |
| A/R Turnover | 13.9 | 17.9 | 18.2 | |
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| Days Sales Outstanding | 365 | 365 | 365 | |
| Turnover | 13.9 | 17.9 | 18.2 | |
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| Bad Debt Expense as a Percentage of Gross Sales: | 0.56% | 0.70% | 0.68% | |
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