Mr. Husker's Tuxedos Corp. ended the year 2021 with an average collection period of 40 days. The firm's credit sales for 2021 were $55.3 million. What is the year-end 2021 balance in accounts receivable for Mr. Husker's Tuxedos? (Enter your answer in dollars not in millions.) Accounts receivable

Mr. Husker's Tuxedos Corp. ended the year 2021 with an average collection period of 40 days. The firm's credit sales for 2021 were $55.3 million. What is the year-end 2021 balance in accounts receivable for Mr. Husker's Tuxedos? (Enter your answer in dollars not in millions.) Accounts receivable

Name: Mr. Husker's Tuxedos Corp. ended the year 2021 with an average collec
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Description: Mr. Husker's Tuxedos Corp. ended the year 2021 with an average collection period of 40 days. The firm's credit sales for 2021 were$55.3 million.What is the year-end 2021 balance in accounts receivable for Mr. Husker's Tuxedos? (Enter your answer in

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
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