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Business, 27.07.2021 02:00 cat706

elected data from Munoz Company follow: Balance Sheets As of December 31 Year 3 Year 2 Accounts receivable $ 403,000 $ 377,000 Allowance for doubtful accounts (20,150 ) (15,080 ) Net accounts receivable $ 382,850 $ 361,920 Inventories, lower of cost or market $ 477,500 $ 443,000 Income Statement For the Years Ended December 31 Year 3 Year 2 Net credit sales $ 2,007,000 $ 1,756,000 Net cash sales 415,000 300,000 Net sales 2,422,000 2,056,000 Cost of goods sold 1,592,000 1,440,000 Selling, general, and administrative expenses 240,300 214,100 Other expenses 39,700 23,100 Total operating expenses $ 1,872,000 $ 1,677,200 Required a. Compute the accounts receivable turnover for Year 3. b. Compute the inventory turnover for Year 3. c. Compute the net margin for Year 2. (For all requirements, round your answers to 2 decimal places.)

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elected data from Munoz Company follow: Balance Sheets As of December 31 Year 3 Year 2 Accounts rece...
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