Business, 05.05.2020 07:20 mommytobe2019

Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $ 600,000 $ 480,000 Allowance for doubtful accounts (40,000 ) (20,000 ) Net accounts receivable $ 560,000 $ 460,000 Inventories, lower of cost or market $ 500,000 $ 400,000 Income Statement For the Years Ended December 31 2018 2017 Net credit sales $ 2,400,000 $ 1,950,000 Net cash sales 600,000 450,000 Net sales 3,000,000 2,400,000 Cost of goods sold 1,800,000 1,520,000 Selling, general, and administrative expenses 300,000 240,000 Other expenses 80,000 50,000 Total operating expenses $ 2,180,000 $ 1,810,000 Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the net margin for 2017.

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Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts recei...

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