Question
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Market, Inc. Supply, Inc. Accounts receivable $ 59,800 $ 77,800
The following information is available for Market, Inc. and Supply, Inc. at December 31:
| Accounts | Market, Inc. | Supply, Inc. | ||||||
| Accounts receivable | $ | 59,800 | $ | 77,800 | ||||
| Allowance for doubtful accounts | 2,248 | 2,556 | ||||||
| Sales revenue | 636,960 | 907,100 | ||||||
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?
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Making Accountability Work Dilemmas For Evaluation And For Audit
Authors: Marie-Louise Bemelmans-Videc, Jeremy Lonsdale, Burt Perrin
1st Edition
1412865557, 978-1412865555
