On April 30, Gomez Services had an Accounts Receivable balance of $30,100. During the month of May, total credits to Accounts Receivable were $65,200 from customer payments. The May 31 Accounts Receivable balance was $24,000. What was the amount of credit sales during May?

Q: On September 30, Valerian Co. had a $111,500 balance in Accounts Receivable. During October, the…

A: Given: Data for Accounts receivables: Opening - $111,500 Collection Made - $111,890 Closing -…

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: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Accounts receivable Receivables are payments that have not yet been received. This means that the…

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

A: Financial management consists of directing,planning,organising and controlling of financial…

Q: Taehyung Company provided the following data: On January 1, the company’s account receivable and…

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are…

Q: The financial statements of Marigold Manufacturing Company report net sales of $1278000 and accounts…

A: In order to compute the average collection period of account receivable, we need to first determine…

Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…

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

Q: Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total…

A: Dear student, as per Bartleby answering guidelines we can answer only the first question if the…

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: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Solution:- Given, Winsor Clothing Store had a balance in the Accounts Receivable account at…

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: What is the number of days’ sales in receivables?  Round to one decimal place. Group of answer…

A: Number of days' in receivables Days Sales Outstanding (DSO) represents the average number of days it…

Q: a. Accounts Receivable had a balance of $1,800 at the beginning of the month and $1,350 at the end…

A: a. Cash collected from customers= Beginning Accounts Receivable + Credit sales - Ending Accounts…

Q: Sheridan Clothing Store had a balance in the Accounts Receivable account of $460000 at the beginning…

A: Opening account receivable (A) = $ 460,000 Closing account receivable (B) = $ 450,000 Net credit…

Q: A company has a 30-day credit terms to its customers. It has a total of P120,000 in their accounts…

A: Ratio analysis: This is the quantitative analysis of financial statements of a business enterprise.…

Q: At December 1, 2022, Swifty Corporation Accounts Receivable balance was $12770. During December,…

A: Formula: Closing accounts receivable = Beginning accounts receivable + Credit sales - cash…

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

A: Average Collection Period: In terms of Accounts Receivable, the average collection time of the…

Q: Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total…

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

Q: The financial statements of the Splish Brothers Inc. reports net sales of $360000 and accounts…

A: The average collection period seems to be the length of time it requires for a company to obtain…

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Financial statements are statements which states the business activities performed by the company .…

Q: accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How…

A: Calculate the number of days to realize Account receivable as follow: Number of days required = 365…

Q: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning…

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

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

A: We have the following information: Opening balance of Account Receivables: $390,000 Closing balance…

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: Yellow Company had a balance of $85,000 in Accounts Payable at the beginning of June, and purchased…

A: Opening accounts payable = $85,000 Purchases = $180,000 Closing accounts payable = $60,000

Q: Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just…

A: Given Information Current Accounts Receivable balance = $357,615 Credit Sales for year end…

Q: The January 1 balance in accounts receivable was $22,000. All sales during the period were on credit…

A: Accounts receivable are the money owed to a company by its customers. This happens because of Credit…

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

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

Q: iary calculations to two decimal places and your final answer to the nearest day.)   A. 54 days.

A: The right answer is c]option C. 46 days.

Q: As of January 1 of the current year, Grayson Company had accounts receivable of $40,000. The sales…

A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

Q: Taehyung Company provided the following data: On January 1, the company’s account receivable and…

A: Net sales = Cash receipts from customers + Ending accounts receivable - Beginning accounts…

Q: The income statement approach to estimating uncollectible accounts expense is used by Kerley…

A: Allowance for doubtful accounts will be considered as a "Contra Asset" as it will reduce the amount…

Q: Jasper Company had a beginning Accounts Receivable balance of $230,000. During the month, total…

A: Normal balance of accounts receivable is debit.

Q: calculate the unknown amount. On September 30, Valerian Co. had a $102,500 balance in Accounts…

A: Given information is: Valerian Co. had a $102,500 balance in Accounts Receivable. During October,…

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: Accounts Payable had a balance of 4,400 at the beginning of the month and 6,200 at the end of the…

A: Payments made to the suppliers can be found out by adding opening accounts payable balance with…

Q: The “age” of an account receivable is the length of time that it has been outstanding. At the end of…

A: Accounts receivable aging is the process of distinguishing open accounts receivable based on the…

Q: Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales…

A: The number of days sales in receivable indicates the number of days the credit sales converted into…

Q: On January 1, A Plus Services has the following balances:   Accounts Receivable $28,000 (debit)…

A: Accounts Receivables are those persons to whom business has made sales on account. They have to pay…

Q: On May 1, Jensen's had a beginning cash balance of $284. April sales were $810 and May sales were…

A: A cash budget is an estimation of expected cash receipts and disbursements on the basis of past…

Q: Medwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all…

A: Average accounts receivable can be calculated by following formula:- Days sales outstanding (DSO) *…

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: The following information relates to a company’s accounts receivable: accounts receivable balance at…

A: Answer) Calculation of Ending Balance of Gross Accounts Receivable Ending Balance of accounts…

Q: Ben Corp has the following annual information: Receivable days assumption = 55 days Payable days…

A: Forecast of account receivables formula: Revenue which was forecasted * (Receivables in days / 365…

Q: The financial statements of the Windsor, Inc. report net sales of $372000 and accounts receivable of…

A: Average collection period for accounts receivable = 365 days/Accounts receivable turnover ratio