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Completing the Tests in the Sales and Collection Cycle: Accounts Receivable - page 14 / 34

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©2010 Prentice Hall Business Publishing, Auditing 13/e, Arens//Elder/Beasley

16 - 14

Analytical Procedures: Sales and Collection Cycle

Gross margin/net sales

Sales returns and allowances/

  gross sales

Bad debt expense/net sales

Allowance for uncollectible

  accounts/accounts receivable

Number of days receivables

  outstanding

Net accounts receivable/

  current assets

27.85%

 0.90%

 2.30%

 6.10%

48.09

37.20%

27.70%

 0.90%

 2.60%

 7.50%

47.96

32.50%

27.68%

 0.90%

 2.60%

 6.40%

49.32

32.30%

12/31/09

12/31/08

12/31/07

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