Net credit sales total $1,512,500. Beginning and ending accounts receivable are $46,000 and $75,000​, respectively. Calculate the​ days' sales outstanding.

Q: A company had the following sales transactions: 1. Total debit card sales = $270,000. 2. Total…

A: Sales Transactions Revenue: Sales revenue is the amount of money earned by a corporation through the…

Q: Zips Corp reports the following: Net Credit Sales 100,000 A/R Jan 1 10,000 ADA Jan 1 1,000 A/R Dec…

A: Accounts receivable turnover ratio = Ner credit sales / Average Net accounts receivable where,…

Q: A company reports the following: Sales $399,675 Average accounts receivable (net) 54,750 Determine…

A: Accounts receivable turnover is computed by dividing the sales with the average accounts receivable…

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: Candle Shop, Inc. has net sales on account of $1,700,000. The average net accounts receivable are…

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

Q: Pine Hardware Store had net credit sales of P6,045,000 and cost of goods sold of P5,000,000 for the…

A: Solution:- Introduction:- Accounts receivables turnover ratio measures the number of times per year…

Q: A company has net income of 213,700 a profit margin of 7.1 percent, and an accounts receivable…

A: Net income = 213,700 Profit margin = 7.1% Sales = Net income/Profit margin          = 213700/0.071…

Q: A company had the following sales transactions: 1. Total debit card sales = $230,000. 2. Total…

A: Total sales include all the transactions related to sales i.e debit card, credit card, check sales,…

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The accrual basis accounting records the revenue and expenses of the current period when they are…

Q: Accounts receivable analysis A company reports the following: Sales $4,560,000 Average…

A: Accounts receivable means the money owed by debtors.

Q: Beginning accounts receivable were $277,500 and ending accounts receivable were $303,300. Cash…

A: Accounts Receivable Balance: The accounts receivable balance is the outstanding balance in the…

Q: The following data are taken from or calculated from the financial statements: Average accounts…

A: Introduction: The percentage of a period's average accounts receivable divided by the period's net…

Q: Net credit sales $120,000 Average accounts receivable 20,000 Cash collections on credit sales…

A: Solution We are provided with the following information Net credit sales = $ 120,000 Average…

Q: The following information relates to Jack Company's accounts receivable for year 2: Accounts…

A: Accounts receivable is an asset for a company which can be to pay off the current liabilities or…

Q: Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts…

A: calculation of average collection period are as follows

Q: Golden Corporation have the following information from its books: Sales P1,600,000 Credit sales 90%…

A: Sales = P1,600,000 Credit sales are 90% of sales Average Collection period is 30 days Assume number…

Q: Light Co.’s accounts receivable balances at the beginning and end of the period were 80,000 and…

A: Accounts Receivable is one of the current asset of the business, which means credit sales made by…

Q: NG has the following financial data as of December 31, 2019: Gross sales = P250,000.00 Sales…

A: Accounts receivable turnover ratio is calculated by dividing  days in a year by average collection…

Q: Accounts Receivable Balance Beginning accounts receivable were $275,500 and ending accounts…

A: Amount of sales = Cash collected from customers - Beginning accounts receivable + Ending accounts…

Q: Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending…

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

Q: Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: Batik Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning…

A: The average collection period is calculated by dividing the average balance of accounts receivable…

Q: Credit sales - P 172,000 credit Collections on accounts receivable during the year - P170,000 credit…

A: Formula: Bad debts amount = Ending Accounts receivable amount x Bad debts percentage

Q: The financial statements of Danielle Manufacturing Company report net sales of $750,000 and accounts…

A: Accounts receivables turnover ratio refers to the efficiency ratio which measures the effectiveness…

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: . A company with net credit sales of $960,000, beginning net receivables of $70,000, andending net…

A: Calculate accounts receivable turnover: Accounts receivable turnover = $960,000 / ($70,000 +$90,000)…

Q: Accounts Receivable Balance Beginning accounts receivable were $275,500, and ending accounts…

A: Accounts receivable are the customers of the company; from whom, amount is receivable due to the…

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

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

Q: A company reports the following Sales $1,200,000 Average accounts receivables (net) 50,000 Determine…

A: Accounts receivables are the legal enforceable claims by the company for the products supplied to…

Q: A company had net sales of $570,000, total sales of $720,000, and average accounts receivable, net…

A: Accounts receivable ratio is calculated to know how efficiently the company collects its debts…

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The cash basis system state that the revenue should be recorded when the actual amount of cash is…

Q: Gandi brothers has DSO of 22 days and its annual sales on account are $7,665,000. Assume number of…

A: Days sales outstanding = 22 days  Annual sales = $7,665,000 Number of days in a year = 365 days…

Q: ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable:…

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

Q: Sandhill Co. had a beginning balance in accounts receivable of $65,960 and an ending balance of…

A: Answer Beginning balance of account receivable = $65,960 Ending balance of account receivable =…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: Ray's beginning and ending accounts receivable balances are $147,990 and $142,720, respectively.…

A: Calculation of the amount of cash collections for the period:

Q: Logan Sales provides the following​ information:   Net credit​ sales: $770,000 Beginning net…

A: Net Credit Sales = $770,000 Beginning Accounts receivables = $45,000 Ending account receivables =…

Q: Net credit sales total $1,264,800. Beginning and ending accounts receivable are $38,000and $43,600,…

A: Average accounts receivable = (Beginning accounts receivable+ending accounts receivable) / 2…

Q: Based on the information:  Credit sales - P 172,000 credit Collections on accounts receivable…

A: Formula: Bad debts expense = Ending Accounts receivable x Bad debts percentage

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectible accounts are those accounts receivables from which amount due on credit sales will not…

Q: The balance in Accounts Receivable at the beginning of the year was $520,000. The balance in…

A: Credit sales is a term in which the goods is transferred to the customer on a credit basis. In which…

Q: KL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Solution: Net Credit Sales = 80% of $1,000,000                             = 800,000 For calculating…

Q: A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts…

A: Given information is: A company has net sales of $489,600 and average accounts receivable of…