Lotus fabrics wants to forecast its accounts receivable for the year 2021 with the following annual information. Also state two advantages of forecasting of accounts receivables for the entity. Receivable days assumption = 60 days Payable days assumption = 72 days Forecasted revenue = 325,000 Forecasted cost of goods sold = 180,250 Choices: 51,195 53,425 49,800 41.705
Lotus fabrics wants to forecast its accounts receivable for the year 2021 with the following annual information. Also state two advantages of forecasting of accounts receivables for the entity. Receivable days assumption = 60 days Payable days assumption = 72 days Forecasted revenue = 325,000 Forecasted cost of goods sold = 180,250 Choices: 51,195 53,425 49,800 41.705
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...
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