Practice Help C a. What is the accounts receivable turnover for each of the companies?b. What is the average days to collect the receivables?c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectibleaccounts for each company?Complete this question by entering your answers in the tabs below.Required ARequired BRequired CAssuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectibleaccounts for each company? (Round your percentage answers to nearest whole number.)EstimatedPercentage ofUncollectibleAccountsCompanyMarket0%Supply0 % The following information is available for Market, Inc. and Supply, Inc. at December 31:AccountsMarket, Inc.$ 58,0002,848656,960Supply, Inc.$ 77,200Accounts receivableAllowance for doubtful accounts2,656927,100Sales revenue

Estimated percentage of uncollectible accounts = Allowance for doubtful accounts * 100/Accounts receivable Market, Inc. Supply, Inc. Accounts receivable $58,000 $77,200 Allowance for doubtful accounts $2,848 $2,656 Substitute the values in the formula. Estimated percentage of uncollectible accounts $2,848 * 100/$58,000 = 5% $2,656 * 100/$77,200 = 3% Company Estimated Percentage of Uncollectible Accounts Market 5 % Supply 3 % Hence, the estimated percentage of uncollectible accounts of Market, Inc. and Supply, Inc. are 5% and 3% respectively.