   Chapter 15.III, Problem 13RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# a. Calculate the average collection period for Shutterbug Cameras from Exercise 10 assuming that the credit sales for the year amounted to $8,550,000.b. Assuming that the industry average for similar firms is 48 days, evaluate the company's ratio. Company Cash MarketableSecurities AccountsReceivable QuickAssets Acid Test Ratio 10. Shutterbug Cameras$24,400 $140,000$750,300

(a)

To determine

To calculate: The average collection period of the company Shutterbug Cameras Inc. which has accounts receivable of $750,300, and credit sales of$8,550,000.

Explanation

Given Information:

The company Impact builders Inc. which has accounts receivable of $750,300, and credit sales of$8,550,000.

Formula used:

The formula to compute the average collection period is,

Average collection period=Accounts receivablesCredit sales×365

Calculation:

Consider that accounts receivables are $750,300, credit sales are$8,550,000

(b)

To determine

To calculate: The company’s ratio by assuming that the industry average for similar firms is 48 days.

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### In Exercises 4562, find the values of x that satisfy the inequality (inequalities). 49. 6 x 2 4

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

#### Solve the equations in Exercises 126. (x3+1)x+1(x3+1)2x+1=0

Finite Mathematics and Applied Calculus (MindTap Course List)

#### Find the limit or show that it does not exist. limx3x22x+1

Single Variable Calculus: Early Transcendentals, Volume I 