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Your company has net sales revenue of $50 million during the year. At the beginning...

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Accounting

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Your company has net sales revenue of $50 million during the year. At the beginning of the year, fixed assets are $22 million. At the end of the year, fixed assets are $24 million. What is the fixed asset turnover ratio? Multiple Choice 2.17 1.09 208 2.27 Morrow Incorporated uses the percentage of credit sales method of estimating doubtful accounts. The Allowance for Doubtful Accounts has an unadjusted credit balance of $3,900 and the company had $200,000 of net credit sales during the period. Morrow has experienced bad debt losses of 5% of credit sales in prior periods. After making the adjusting entry for estimated bad debts, what is the ending balance in the Allowance for Doubtful Accounts account? Multiple Choice $10,000 $6,100 $13,900 $7,800

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