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The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market,
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. $ 59,200 Supply, Inc. $ 76,600 2,348 646,960 2,856 897,100 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?
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