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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 uncolle accounts for each company?

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 uncolle accounts for each company?

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The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Supply, Incorporated $ 79,600 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Incorporated $ 57,400 3,048 646,960 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 uncolle accounts for each company? Required B Required C 2,356 917,100 Complete this question by entering your answers in the tabs below. Required A What is the accounts receivable turnover for each of the companies? Note: Round your answers to 1 decimal place.
Transcribed Image Text:The following information is available for Market, Incorporated and Supply, Incorporated at December 31: Supply, Incorporated $ 79,600 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Incorporated $ 57,400 3,048 646,960 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 uncolle accounts for each company? Required B Required C 2,356 917,100 Complete this question by entering your answers in the tabs below. Required A What is the accounts receivable turnover for each of the companies? Note: Round your answers to 1 decimal place.
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