A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number of collection days. (Do not round intermediate calculations, round your answer to two decimal places, i.e. 12.34)   Using the abswer to the prvious question, how does the numbers relate to the terms of 2/10 net/30?

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A: We need to use the following equations for calculation of accounts payable and accounts receivable…

Q: Using the data in the preceding question, assume accounts receivable had a beginning balance of…

A: Given information is: Net credit Sales = $807,800 Beginning Account Receivables = $67,400 Ending…

Q: If a firm has sales of $25,689,00 a year, and the average collection period for the industry is 45…

A: We often convert the receivables turnover ratio into days and call it the average collection…

Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…

A:

Q: average investment in accounts receivable?

A: Average investment in accounts receivable = Accounts receivable average collection period * Annual…

Q: A company reports the following: Sales Average accounts receivable (net) $511,000 73,000 Determine…

A: Sales = 511,000 Average Accounts Receivables (net) = 73,000

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Accounts receivable turnover ratio = Net Credit Sales / Average Accounts Receivables Sales in…

Q: What is the number of days’ sales in receivables?  Round to one decimal place. Group of answer…

A: Number of days' in receivables Days Sales Outstanding (DSO) represents the average number of days it…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: In this question, we are required to calculate accounts receivable turnover ratio and the number of…

Q: accounts receivable turnover ratio and the number of days' sales in receivables ratio

A: Accounts receivable turnover ratio = Net credit sales/Average accounts receivable

Q: JKL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Average Collection Period: In terms of Accounts Receivable, the average collection time of the…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Accounts receivable turnover ratio is a type of activity ratio, which is defined as the measurement…

Q: Leonard had credit sales of $1,200,000, a balance in accounts receivable of $250,000 and an…

A: Bad debt expenses are the expenses written off to account for the uncollectible debtors. Allowance…

Q: accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How…

A: Calculate the number of days to realize Account receivable as follow: Number of days required = 365…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,483,630, beginning…

A: Account receivable turnover ratio: =  Net credit sales / Average account receivable Sales in…

Q: If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio?

A: Accounts receivables are the current assets of the company. The accounts receivables are increased…

Q: Barga Co.'s net sales for Year 1 and Year 2 are $665,000 and $749,000, respectively. Its year-end…

A: Days sales uncollected indicates the cash collection from its sales. It can be calculated by…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,463,630, beginning…

A: Accounts receivable turnover ratio = Net Credit sales / Average accounts receivables Sales in…

Q: A firm starts with $5,000 of accounts receivables and ends the period with $4,000 of receivables. If…

A: Sales revenue: It can be defined as the amount received by an individual or entity against the sale…

Q: Which of the following would occur if a company factored $2,500,000 of receivables with a 2% fee?…

A: Formulas: Factoring expenses = Receivables * Fee rate

Q: The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts…

A: Sales made by business can be for cash or on credit basis. Under credit basis, accounts receivable…

Q: Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just…

A: Given Information Current Accounts Receivable balance = $357,615 Credit Sales for year end…

Q: iary calculations to two decimal places and your final answer to the nearest day.)   A. 54 days.

A: The right answer is c]option C. 46 days.

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: A.  First, calculate Average accounts receivables: Average Accounts Receivables=Beginning accounts…

Q: Suppose that Dunn Industries has annual sales of $2.3 million, cost of goods sold of $1,650,000,…

A: The question is based on the concept of calculation of operating cycle of a firm, Formula as,

Q: La Resolana, S.A., has credit sales of $180,000 per year, with net payment terms of 30 days, which…

A: Accounts receivables are the current assets of the company which arises due to sale made on credit…

Q: Falafel Hut has sales of $512,630. The cost of goods sold is equal to 60 percent of sales. The…

A: The accounts receivable are the current assets of the company. The increase in the credit sales or…

Q: Trout Lumber Yard has a current accounts receivable balance of $440,516. Credit sales for the year…

A: Receivables turnover = Credit sales / Receivables   Days' sales in receivables = 365 days /…

Q: You are an investor looking to contribute financially to either company A or Company B. The…

A: The receivables turnover ratio is a financial indicator that evaluates a company's ability to…

Q: Baxley Brothers has a DSO of 23 days, and its annual salesare $3,650,000. What is its accounts…

A: Day sales outstanding=23 daysAnnual sales=$3,650,000Days per year=365 days

Q: Blue Air Inc., has net sales of $735,000 and  accounts receivables of $164,000. What are the firm's…

A: Accounts Receivables Turnover Ratio measures the efficiency of the company in collecting receivables…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: Baxley Brothers has a DSO of 27 days, and its annual sales are $10,220,000. What is its accounts…

A: Ratio measurement is in terms of Financial world, depicts that a single accounting figure by itself…

Q: Crane Corp.currently has accounts receivable of $1,093,000 on net sales of $7,334,000. What are its…

A: The computation of accounts receivable turnover ratio: Hence, the accounts receivables turnover…

Q: Baxley Brother has a DSO of 23 days, and its annual sales are $3,650,000.  What is its accounts…

A:

Q: ibu Corporation has annual credit sales of $35 million. The s 37 days. What is the average…

A: The average accounts receivable represents the average amount of trade receivables on hand during a…

Q: If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and…

A: Average Collection Period helps to know the trend of collection of dues. The formula of Average…

Q: Terry's hardware normally takes 27 days to pay for average daily credit purchases of $9,530.  Its…

A: Part (a)Accounts receivable = Average daily credit sales x Average collection period = $ 10,680  x…

Q: The Suitter Company is a small company producing suit cases.  The followings are the company’s…

A: Account Receivables - It refers to the amount that company would to receive from their customer on…

Q: A company has net income of $182,000, a profit margin of 9.90 percent, and an accounts receivable…

A: Days sales in receivables = Accounts receivable/credit sales *365

Q: A firm has accounts receivables of R352 476, sales just ended of R3 050 291. What is the average…

A: The Financial Ratio is mainly used by the investor for measuring the financial performance of the…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Formula: Accounts receivable turnover ratio = Net credit sales / average accounts receivable Average…

Q: The QYU, Inc. has sales of P5 million per year (all credit) and an average collection period of 35…

A:

Q: Flying Tigers, Inc., has net sales of $722,000 and accounts receivables of $152,000. What is the…

A: accounts receivables turnover=net salesaccounts receivables

Q: The Malibu Corporation has annual credit sales of $28 million. The average collection period is 30…

A: Day sales in receivables= 365/receivables turnover 30 =365/ receivables turnover receivables…

Q: . Medwing Corporation has a DSO of 19 days. The company averages 5,500 in credit sales each day.…

A: Given: (Days sales outstanding) DSO = 19 days Credit sales = 5,500 Assuming 365 days in a year.