Question
The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts Market, Inc. Supply, Inc. Accounts receivable $ 57,400 $ 76,000
The following information is available for Market, Inc. and Supply, Inc. at December 31:
| Accounts | Market, Inc. | Supply, Inc. | ||||||
| Accounts receivable | $ | 57,400 | $ | 76,000 | ||||
| Allowance for doubtful accounts | 3,148 | 2,456 | ||||||
| Sales revenue | 626,960 | 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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Telecom Audit
Authors: M S. Mastel
1st Edition
0071410546, 9780071410540
