Part 1: Percentage of uncollectible accounts per year = Uncollectible accounts x

Question

Part 1:

Percentage of uncollectible accounts per year = Uncollectible accounts x 100 divided by Net Sales

Year one:

Year two:

Year three:

Year four:

Part 2:

Net Sales = Sales minus sales Discounts, Sales Returns and allowances

Name of the Companies

Sales

Sales Discount

Sales Returns and allowances

Net Sales

Percentage of Net Sales Uncollectible

Amount of Uncollectible Accounts Payable

Andrews Co

$142,360

$1,423

$936

$140,001

2

The Book Nook

$209,100

$3,180

$1,139

$204,781

1

Cable Inc

$173,270

$1,730

$1,540

$170,000

1

Name of the Companies

Sales

Sales Discount

Sales Returns and allowances

Net Sales

Percentage of Net Sales Uncollectible

Amount of Uncollectible Accounts Payable

Andrews Co

$142,360

$1,423

$936

$140,001

2

The Book Nook

$209,100

$3,180

$1,139

$204,781

1

Cable Inc

$173,270

$1,730

$1,540

$170,000

1

Explanation / Answer

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