ABCD Corporation has credit sales of $12,690,000 and receivables of $1,970,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 50 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select-YesNoItem 3 , it is days overdue.

ABCD Corporation has credit sales of $12,690,000 and receivables of $1,970,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 50 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select-YesNoItem 3 , it is days overdue.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

See similar textbooks

Similar questions

Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?
The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?
Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
ABCD Corporation has credit sales of $8,460,000 and receivables of $1,260,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 30 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. , it is days overdue.
If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and annual net credit sales of 11,513,000, what is accounts receivable for Vabasa? Enter your answer as a whale number rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $4,392,118.9342 as 4392119. Your Answer: Answer
The accounts receivable turnover ratio of a company is 2; if its annual credit sales is $ 719550, what is the average value of outstanding credit (or value of accounts receivable)? If the company operates 355 a year, what is the average number of days it takes to get a credit sale paid? Average outstanding credit = $| (Round to TWO places of decimal) Average number of days to get payment on a credit sale =| (Round to the nearest integer)
ABCD Corporation has credit sales of $10,640,000 and receivables of $1,520,000. a. What is the receivables turnover?b. What is the average collection period (days sales outstanding)?c. If the company offers credit terms of 30 days, are its receivables past due?
Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days. Credit sales are P274,200. What is the average receivable?
Salma Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P800,000, what is the company’s average investment in accounts receivable? choose the letter of correct answera. P44,444.00b. P144,444.00c. P224,444.00d. P244,444.00e. P344,444.00
Baxley Brothers has a DSO of 46 days, and its annual sales are $5,840,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest cent.
Dome Metals has credit sales of $342,000 yearly with credit terms of net 45 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 45 days to pay. a. What is the average receivables balance? (Use a 360-day year.)b. What is the receivables turnover? (Use a 360-day year.)
Medwig Corporation has a DSO of 25 days. The company averages $7,750 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar.