Your company had net sales of $100,000 over the past year. One quarter of the sales were credit sales. During that time, average receivables were $5,000. The accounts receivable balance at the end of the year was $5,000. What was the average collection period? What is the average age of receivables (same answer!)? (Assume a 360-day year) 18 days O 27 days O 36 days O 72 days
Your company had net sales of $100,000 over the past year. One quarter of the sales were credit sales. During that time, average receivables were $5,000. The accounts receivable balance at the end of the year was $5,000. What was the average collection period? What is the average age of receivables (same answer!)? (Assume a 360-day year) 18 days O 27 days O 36 days O 72 days
Chapter7: Budgeting
Section: Chapter Questions
Problem 9PA: Fitbands estimated sales are: What are the balances in accounts receivable for January, February,...
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