accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How long did it take on average for credit customers to pay off their accounts during the past year? Assume a 365-day year. Can you provide the formula?

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Number of days sale in receivable means how much time will the debtor takes to clear his dues. First…

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: What is the receivables turnover?

A: Turnover means the is the amount of sales by the business. It is sometimes called as income of the…

Q: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

Q: Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales…

A: The ratio analysis helps to analyse the financial statements of the business.  The account…

Q: ABCD Corporation has credit sales of $10,640,000 and receivables of $1,520,000. a. What is the…

A: Receivables turnover = Credit sales / Accounts receivable Average collection period = 365/…

Q: The following are the transaction for the month of February     Cash Sales   $45000   Credit…

A: Accounts receivable:  It is a current asset of an organization. It is the amount due from customers…

Q: The credit manager of Montour Fuel has gathered the following information about the company’s…

A: Uncollectible accounts: Uncollectible accounts refer to that part of receivables which become…

Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…

A: Given: Credit sales = $180,000 Accounts receivables = $14,000

Q: Accounts receivable management This table, . shows that Blair Supply had an end-of-year accounts…

A: In order to increase the sales revenue, the business organization sells their goods on the credit…

Q: Dauring the year, Kiner Company made an entry to write off a $32,000 uncollectible account. Before…

A: Accounts receivable:Accounts receivable is the amount of cash owed to the company by the customer…

Q: Assuming 77 percent of sales are on credit, what is the company's days' sales in receivables?

A: Information Provided: Net Income = $191,000 Profit Margin = 9.10% Accounts Receivable = $106,919…

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Solution:- Given, Winsor Clothing Store had a balance in the Accounts Receivable account at…

Q: At June 1, 2022, Whispering Winds Corp. had an Accounts Receivable balance of $19,100. During the…

A: Calculate the accounts receivable balance at June 30, 2022:

Q: What amount should be reported as net realizable value of accounts receivable on December 31?

A: The net realizable value of accounts receivable can be ascertained as the debit balance in the asset…

Q: Sheridan Clothing Store had a balance in the Accounts Receivable account of $460000 at the beginning…

A: Opening account receivable (A) = $ 460,000 Closing account receivable (B) = $ 450,000 Net credit…

Q: A company has a 30-day credit terms to its customers. It has a total of P120,000 in their accounts…

A: Ratio analysis: This is the quantitative analysis of financial statements of a business enterprise.…

Q: The "age" of an account receivable is the length of time that it has been outstanding. At the end of…

A: Accounts receivables is the current asset that represents the money which is to be received by…

Q: Barga Company's net sales for Year 1 and Year 2 are $666,000 and $747,000, respectively. Its…

A: The ratio analysis helps to analyse the financial statements of the business.  The days' sales…

Q: following data for the current year, what is the number of days' sales in receivables (rounded to…

A: Accounts receivable (AR) seems to be the amount owed to a company for products or services provided…

Q: Last year, the Tilden Co. had credit sales in the amount of $470,000, and it had uncollectible…

A: Formula: Estimated uncollectible accounts = Credit sales x percent of estimated uncollectible…

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Financial statements are statements which states the business activities performed by the company .…

Q: How much were the receipts from customers of Koronadal Gardens? If the balance of accounts…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: Bulldogs Inc. had credit sales last year amounted to P18,600,000. The firm also had an average…

A: Solution.. Credit sales = P18,600,000  Average accounts receivable = P1,380,000  Average collection…

Q: A. Assume that all sales are on account. If sales revenue was $18,000,000 and the average days in…

A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account…

Q: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning…

A: Average Accounts receivable = (Beginning Accounts receivable + Ending Accounts receivable) / 2 =…

Q: The January 1 balance in accounts receivable was $22,000. All sales during the period were on credit…

A: Accounts receivable are the money owed to a company by its customers. This happens because of Credit…

Q: The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of…

A: The answer is as fallows

Q: Marie's Clothing Store had an acounts receivable balance of $440,.000 at the beginning of the year…

A: Accounts receivable turnover = Net credit sales / average Accounts receivable =…

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: Michaels Corp. has a current accounts receivable balance of $623,410. Credit sales for the year just…

A: Introduction: Accounts receivable turnover is the number of times a year that a business pays its…

Q: Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days.…

A: Average collection period means the average time period with in which the debtor makes the payment.

Q: For its most recent year a company had Sales(all on credit) of $830,000 and Cost of Goods Sold of…

A: Days of account receivables helps to understand how many days are required by the firm to clear its…

Q: A company's year-end balance in accounts receivable is $2,000,000. The allowance for uncollectible…

A: Beginning balance of allowance account = $30,000 Ending balance of allowance account = $38,000 Bad…

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: The “age” of an account receivable is the length of time that it has been outstanding. At the end of…

A: Accounts receivable aging is the process of distinguishing open accounts receivable based on the…

Q: On April 30, Holden Company had an Accounts Receivable balance of $18,00O. During the month of May.…

A: Accounts receivables are the dues that the company is entitled to receive from credit purchasers.…

Q: Calculating the Average Collection Period Trout Lumber Yard has a current accounts receivable…

A: Given, Accounts receivable = $527,164 Total credit sales = $6,787,626 Number of days in a year = 365…

Q: SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Medwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all…

A: Average accounts receivable can be calculated by following formula:- Days sales outstanding (DSO) *…

Q: B&B Mining has a DSO of 40 days, and its annual sales are 7,300, 000. What is its accounts…

A: Daily sales outstanding (DSO) = 40 Days Annual sales = 7,300,000 Number of days in a year = 365 Days

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: On April 30, Gomez Services had an Accounts Receivable balance of $30,100. During the month of May,…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Calculate accounts receivable turnover:

Q: he credit manager of Montour Fuel has gathered the following information about the company’s…

A: Bad debt expense: Bad debt expense is an expense account. The amounts of loss incurred from…

Q: The financial statements of the Windsor, Inc. report net sales of $372000 and accounts receivable of…

A: Average collection period for accounts receivable = 365 days/Accounts receivable turnover ratio