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The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market,
The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Incorporated $ 58,600 2,648 616,960 Supply, Incorporated $ 77,200 2,956 887,100 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? Accounts Receivable Company Turnover Market times Supply times
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