In 2020, Sahara Company has net credit sales of $923,795 for the year. It had a beginning accounts receivable (net) balance of $38,275 and an ending accounts receivable (net) balance of $35,988. Instruction:  Compute Sahara Company’s (a) Accounts receivable turnover.  (b) Average collection period in days.

Q: On January 1, 2020, the balance of accounts receivable of Ortega Company was P5,000,000 and the…

A: There are 2 methods for estimating bad debt expense: 1. Percentage of sales method 2. Percentage of…

Q: At the beginning of 2019, Blue Devil Inc. had net Accounts Receivable of $49,000. At the end of…

A: Quick ratio: The financial ratio which evaluates the ability of a company to pay off the instant…

Q: In the year 2020 LNG company had a net sale of RO19,800 million for the year of which RO17600 are…

A: The average collection period is the average number of days between the date of credit sale and the…

Q: Assume credit sales for 2019 were $312,000 and that on December 31, 10% of credit sales are…

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.

Q: ABC company's records included the following, assume 365 days in a year: Accounts Receivable,…

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

Q: Mosaic’s Company balance sheet at December 31, 2018, reported the following: Accounts…

A:

Q: Mosaic’s Company balance sheet at December 31, 2018, reported the following: Accounts…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: In 2020, the Kenan Co. had net credit sales of $375,000. On January 1, 2020 Allowance for Doubtful…

A: Amount of adjustment required = (Ending balance of Accounts receivable X Estimated percentage of…

Q: The balance sheet at the end of 2018 reported Accounts Receivable of $785,500 and Allowance for…

A: Journal: Recording of a business transactions in a chronological order.

Q: The following data relate to accounts receivable of Ritsu Company for 2019:   Accounts Receivable,…

A: The computations are done for Ritsu Company.

Q: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales…

A: Formulas: Accounts receivable turnover ratio = Credit Sales / Average accounts receivables   Working…

Q: In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning…

A: Account receivable turnover ratio is calculated by the company to check the effectiveness of a…

Q: The following information relates to Jhon Co.’s accounts receivable for 2020: Accounts receivable,…

A: Accounts receivable: It can be defined as the amount that is owed by the customers from the business…

Q: At the beginning of 2021, Clay Ventures has total accounts receivable of $100,000. By the end of…

A: Receivables turnover ratio = Net credit sales / Average Accounts Receivable where, Average Accounts…

Q: DVAH Company estimates that 6% of aCcounts receivable will be uncollectib cotal credit sales for the…

A: Solution: Adjusted balance of allowance accounts = accounts receivable * 6%

Q: Mosaic’s Company balance sheet at December 31, 2018, reported the following: Accounts…

A: Formulas:

Q: Use the following financial statement information from Black Water Industries. BLACK WATER…

A: Accounts Receivable Turnover Ratio=Net Credit SalesAverage Accounts Receivable

Q: Company ZT reported for the fiscal year ended 2020, a $51970 and $62400 beginning and ending…

A: The average age of inventory is the average number of days it takes for a firm to convert inventory…

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: 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: The following data exists for Sandhill Company.     2020   2019   Accounts Receivable   $60,000…

A: Solution: Average accounts receivables for 2020 = ($60,000 + $84,000) / 2 = $72,000 Accounts…

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: At December 1, 2025, a company's Accounts Receivable balance was $20500. During December, the…

A: Accounts receivable is an current asset.Since it will be realized in normal operating cycle.…

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: 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: Accounts Receivable Turnover and Average Collection Period  The Outback Corporation disclosed the…

A: Requirement 1:   Compute the accounts receivable turnover ratio for 2018.

Q: еBook Calculator Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit…

A:

Q: Determine the managerial balance sheet for the FY 2021.

A: Answer

Q: In 2020, Ahmad Company had credit .1 sales of $800,000 and granted sales discounts of $20,000. On…

A: Account receivable means the amount due from customer whom we sold the goods on credit. Allowance…

Q: The December 31, 2021, balance sheet of the Kingbird, Inc. had Accounts Receivable of $670,000 and a…

A: GIVEN : December 31, 2021 Accounts Receivable = $670,000 Credit balance in Allowance for Doubtful…

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: Corporation has the following account balances on December 31, 2020: Accounts receivable  ₱…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: The following is select financial statement information from Vortex Computing: Year Net Credit…

A: Accounts receivable turnover: The accounts receivable turnover shows how efficiently a company…

Q: In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account…

A: Average Receivable Turnover = Credit Sales/Average Accounts Receivable Average Receivable in Days =…

Q: ost the beginning balance and the journal entries to the T-account Allowance for Doubtful Accounts.…

A: Introduction: Allowance for Doubtful accounts is a contra asset, that it is related with the…

Q: At June 1, 2021, Coquehcot Industries had an accounts receivable balance of $12,000. During the…

A: The account receivables are also known with the name of debtors. These are the values due to a firm…

Q: In 2020, HK company has net credit sales of 925,000S for the year. It had a beginning account…

A: Solution:- Calculation of Accounts receivable turnover ratio as follows:- The following formula used…

Q: Von Company had the following data relating to its Accounts Receivable: Accounts Receivable,…

A: Accounts Receivable, December 31, 2020  = Accounts Receivable, December 31, 2019 + 2020 credit sales…

Q: BTS Company had the following data relating to its accounts receivable. Accts. Receivable, Dec. 31,…

A: Answer) Calculation of Amortized cost of accounts receivable on December 31, 2021 Amortized cost of…

Q: Company ZT reported for the fiscal year ended 2020, a $51970 and $62400 beginning and ending…

A: Here, Note: As nothing is mentioned in the question regarding no. of days in an year, we are…

Q: Blige Corporation had sales revenue of $12,000,000 in 2019 and $15,000,000 in 2020. Accounts…

A: Ratios are the measures of performance of the items of the statement of profit & loss and…

Q: Lyka Co. determined that the net value of its accounts receivable at December 31, 2020, based on an…

A: As we can see that, the net value of accounts receivable at 31 December 2020, is 325000 and the…

Q: The company wants to assess the account receivable outstanding at the end of December 2016. During…

A: Accounts Receivable Payment PEriod = 365/Account Receivable turnover ratio Accounts Receivable…

Q: The balance sheet at the end of 2018 reported Accounts Receivable of $785,500 and Allowance for…

A: Allowance for doubtful debt is created for the accounts receivables whose recovery is uncertain. It…

Q: On January 1, 2019, Jasmin Company had a credit balance of P260,000 in the allowance or…

A: Uncollectible accounts expense = Credit sales x 2%

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: 2022 2021 Average accounts receivable P 400,000 P 416,000 Net credit sales P2,600,000 P3,100,00C

A: 1) Account Receivable Turnover Ratio =  Net Credit Sales/ Average account receivable 2) The…

Q: Lotus fabrics wants to forecast its accounts receivable for the year 2021 with the following annual…

A: Forecast of account receivables: = Revenue forecasted * (Receivables in days / Number of days in the…

Q: During the year ended 31 March 2019, a business made sales of GH₵ 560,000 of which 25% were for…

A: Trade receivables turnover = Net Credit Sales / Average trade receivables Where, Average trade…