Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters
12th Edition
ISBN: 9780134490663
Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae
Publisher: PEARSON
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Chapter 9, Problem E9.27E
Computing the collection period for receivables
| Learning Objective 5 |
Unique Media Sign Incorporated sells on account Recently, Unique reported the following figures:
| 2018 2017 |
| Net Credit Sales $594,920 $602,000 Net Receivables at end of year 38,500 47,100 |
Requirements
1. Compute Unique’s days’ sales in receivables for 201 8.. (Round to the nearest day.)
2. Suppose Unique’s normal credit terms for a sale on account are 2/1 0, net 30 How well does Uniques collection period compare to the company’s credit terms? Is this good or bad for Unique?
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Chapter 9 Solutions
Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters
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