Pls answers number 10 to 13 with solutions 10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at thebeginning of the year and a balance of P410,000 at the end of the year. Net credit sales during theyear amounted to P4,000,000. The average collection period of the receivables in terms of dayswasa. 30 days.b. 365 days.c. 73 days.PE. 3Financial Managementd. 37 days.11. Pint Hardware Store had net credit sales of P6,500,000 and cost of goods sold of P5,000,000 for theyear. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000,respectively. The receivables turnover wasa. 7.7 times.b. 10.8 times.c. 9.3 times.d. 10 times.12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000for the year. The average inventory for the year amounted to P2,000,000.12. Inventory turnover for the year isa. 8 times.b. 14 times.c. 6 times.d. 4 times.13. The average days in inventory during the year wasa. 91 days.b. 61 days.c. 46 days.d. 26 days.BAY

Average collection period shows in how many days on an average a debtors pays his dues Average…

10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.

10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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