Question
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Market, Inc. Supply, Inc. Accounts receivable $ 58,000 $ 79,600
The following information is available for Market, Inc. and Supply, Inc. at December 31:
| Accounts | Market, Inc. | Supply, Inc. | ||||||
| Accounts receivable | $ | 58,000 | $ | 79,600 | ||||
| Allowance for doubtful accounts | 2,648 | 2,556 | ||||||
| Sales revenue | 616,960 | 877,100 | ||||||
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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The Consolations Of Economics How We Will All Benefit From The New World Order
Authors: Gerard Lyons
1st Edition
0571307795, 9780571307791
