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. $ 57,400 3,048 656,960 Supply, Inc. $ 77,200 2,356 907, 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 uncollectib 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.) Accounts Receivable Company Turnover Market Supply times times The following information is available for Market, Inc. and Supply, Inc. at December 31; Accounts Market, Inc. Accounts receivable Supply, Inc. $ 57,400 Allowance for doubtful accounts $ 77,200 3,048 2,356 Sales revenue 656,960 907,100 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? Complete this question by entering your answers in the tabs below. Required A Required B Required What is the average days to collect the receivables? (Use 365 days in a year. Do not round intermediate calculations. Round your answers to the nearest whole number) Company Market Supply Average Collection Period days days The following information is available for Market, Inc. and Supply, Inc. at December 31 Accounts Market, Inc. Supply, Inc. Accounts receivable $ 57,400 $ 77,200 Allowance for doubtful accounts 3,048 2,356 Sales revenue 656,960 907,100 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? Complete this question by entering your answers in the tabs below. Required A Required B Required Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each company? (Round your percentage answers to nearest whole number) Company Estimated Percentage of Uncollectible Accounts % Market Supply
