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Assuming both companies use the percent of receivables

The following information is available for L'Cole Inc. and Woodward Inc. at December 31, 2014:

131_264-B-A-C-R (1685).png

Required:

a. What is the accounts receivable turnover for each of the companies for 2014?

b. What is the average days to collect the receivables for 2014?

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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Accounting Basics: Assuming both companies use the percent of receivables

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