At year-end, Sample has cash of $8,000, current accounts receivable of $40,000, merchandise inventory of $43,200, and prepaid expenses totaling $5,100. Liabilities of $32,000 must be paid next year. Assume accounts receivable had a beginning balance of $30,000 and net credit sales for the current year totaled $840,000. How many days did it take Sample to collect its average level of receivables? (Assume 365 days/year. Round any interim calculations to two decimal places. Round the number of days to the nearest whole number) A. 30 B. 13 C.17 D.15

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Q: During its first year of operations, G Company provides services on account of $250,000. By the end…

A: Since there are multi sub-parts, we will solve first three for you. To get the remaining sub-parts…

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

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A: Current assets: Current assets are all those assets which are expected to be sold or used as a…

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A: T-Accounts: T-accounts are referred as T-account because its format represents the letter “T”. The…

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

Q: If the average age of the inventory is 90 days, the average age of accounts payable is 60 days, and…

A: Cash Flow Cycle= Days inventory outstanding + Days sales outstanding - Days payables outstanding

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A: Days Sales or Receivables Outstanding means the number of days it takes a company to realize cash…

Q: Barga Company's net sales for Year 1 and Year 2 are $669,000 and $750,000, respectively. Its…

A: Solution:- a)Calculation of  the days' sales uncollected at the end of each year as follows under:-

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A: Net Sales = 100,000 One quarter were credit sales Credit Sales = Net Sales / 4 = 100,000 / 4 =…

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

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A: Bad debts expense refers to an expense for recording accounts receivable which are uncollectible…

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A: The gross sales are calculated as sum of net sales, sales discount and allowance and sales returns.

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Q: At the beginning of the year, ABC's Accounts Receivable balance was $82,300. During the year ABC…

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Q: Given beginning and ending accounts receivable of $20,000 and $23,000, respectively, and assuming…

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A: The answer is as fallows

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A: The answer states the computation of cash conversion cycle

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A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

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Q: A company has annual sales of $5,210,000 and its average daily accounts receivable is $377,000. What…

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