Acct 701 study materiAL.docx - In the answer boxes below...

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In the answer boxes below, select the right answer from the drop-down menu. Each answer is worth 2 points. Answers are rounded to two decimals.RatioAnswerDays Sales in InventoryAnswerAverage Collection PeriodAnswerDebt to Equity RatioAnswerAR TurnoverAnswerCurrent RatioAnswerFeedbackRatioAnswerDays Sales in Inventory260.71Average Collection Period104.29Debt to Equity Ratio2.17
AR Turnover3.5Current Ratio1.71CorrectMarks for this submission: 10.00/10.00.Question 2CorrectMark 10.00 out of 10.00Flag questionQuestion textJay Inc. estimates uncollectible accounts using the percentage-of-receivables method and expectsthat 6.2% of outstanding receivables will be uncollectible for 2016. The balance in Accounts Receivable is $1,444,000, and the Allowance for Doubtful Accounts has a credit balance of $7,210 before adjustments at year-end. The Bad Debt Expense for 2016 will be:
CorrectMarks for this submission: 10.00/10.00.

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