Below Is Selected Data of Pronto Company Required:
A

question 16

Essay

Below is selected data of Pronto Company:
$\begin{array}{c}\begin{array}{|l|} \hline \text {Balanice Sleet Data}\\ \hline \\ \hline \text {Accounts receivable}\\ \hline \text {Allowance for doubtful accounts}\\ \hline \text {Net accounts receivable}\\ \hline \\ \hline \text {Inventories - LCM}\\ \hline \\ \hline \text {Income Statement Data}\\ \hline \text {Net credit sales}\\ \hline \text {Net cash sales}\\ \hline \text {Net sales}\\ \hline \text {Cost of goods sold}\\ \hline \text {Selling, general and adm. expenses}\\ \hline \text {Other}\\ \hline \text {Total operating expenses}\\ \hline \text {Net income}\\ \hline\end{array}\begin{array}{l|} \hline \text {As of December 31:}\\ \hline2012\\ \hline\$ 671,000 \\ \hline\underline{31,000}\\ \hline\$ 640,000\\ \hline\\ \hline \$ 542,500\\ \hline\\ \hline\\ \hline\underline{\$ 3,150,000} \\ \hline\underline{800,000}\\ \hline\underline{\$ 3,950,000} \\ \hline \$ 2,370,000 \\ \hline475,000\\ \hline150,000\\ \hline \underline{\$ 2,995,000 }\\ \hline\underline{ \$ 955,000}\\ \hline\end{array}\begin{array}{l|} \hline\\ \hline2011\\ \hline\$642,000\\ \hline\underline{22,000}\\ \hline\$620,000\\ \hline\\ \hline\$642,500\\ \hline\\ \hline\\ \hline\$3,000,000\\ \hline\underline{600,000}\\ \hline\underline{\$3,600,000}\\ \hline\$2,160,000\\ \hline350,000\\ \hline125,000\\ \hline\underline{\$2,635,000}\\ \hline\underline{\$965,000}\\ \hline\end{array}\end{array}$
Required:
a. What is the accounts receivable turnover for 2012?
b. What is the inventory turnover for 2012?

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Definitions:

State Development

The process through which a geographical area with a defined territory evolves organizational structures to govern and manage its populace and resources.

Tikal

An ancient Mayan city located in the rainforests of what is now northern Guatemala, known for its monumental architecture and significant archaeological sites.

Overland Trade Route

A path or route used for the transportation of goods and trade over land, as opposed to sea or air, historically significant for economic and cultural exchanges.

Tikal Project

An extensive archaeological effort focusing on the investigation and preservation of Tikal, one of the largest urban centers of the ancient Maya civilization.