Question
Using the following select financial statement information from Black Water Industries, compute the number of days' sales in receivables ratios for 2018 and 2019 (round
Using the following select financial statement information from Black Water Industries, compute the number of days' sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Black Water Industries?
Blackwater Industries
Year Net credit Sales Ending Accts. Receivable
2017 685,430 330,250
2018 700,290 360,450
2019 768,500 401,650
Determine the estimated uncollectible bad debt from Envelope Experts using the balance sheet aging of receivables method and record the year-end adjusting journal entry for bad debt.
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Advanced Accounting
Authors: Debra C. Jeter, Paul K. Chaney
7th edition
1119373204, 9781119373254 , 978-1119373209
