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- A company reports the following: Sales Average accounts receivable (net) Determine (a) the accounts receivable turnover and (b) the days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day a. Accounts receivable turnover b. Days' Sales in Receivables Time Remaining: 1:48:20 $284,700 54,750 days Il Proctorio is sharing your screen. Stop sharing HideThe following information is available for Crane Company. Beginning accounts receivable Ending accounts receivable Net sales Compute the accounts receivable turnover and the average collection period. (Round average collection period to 1 decimal places, eg. 15.2. Use 365 days for calculation.) Accounts receivable turnover $72,800 114,400 1.216,800 Average collection period times daysA company reports the following: Line Item Description Amount Sales $235,060 Average accounts receivable (net) 51,100 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. Line Item Description Answer a. Accounts receivable turnover b. Days' Sales in Receivables
- A company reports the following: Sales Average accounts receivable (net) Determine (a) the accounts receivable turnover and (b) number of days' sales in receivables. Round your answers to one decimal place. Assume a 365- day year. a. Accounts receivable turnover $398,580 76,650 b. Number of days' sales in receivables daysThe Rivers Company reports the following data relative to accounts receivable. The terms of sale are net 30 days. (check the attached photo) Requirement: (A) Compute the accounts receivable turnover and (B) the collection period.A company reports the following: Line Item Description Amount Sales $1,069,085 Average accounts receivable (net) 105,850 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.
- An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable. Sales = $93,398Cost of Goods Sold (COGS) = $36,052Cash Cycle = 22 daysOperating Cycle = 86 daysAccounts Receivable Period = AR Period = Average Collection Period (ACP) = 40 daysWhat is the company's Accounts Payable balance?Millennial Manufacturing has net credit sales for 2018 in the amount of $1,443,630, beginning accounts receivable balance of $588,900, and an ending accounts receivable balance of $624,450. A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal places. times days B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day's sales ratio is 180 days? Accounts receivable turnover ratio Sales in receivables ratio a. Millennial Manufacturing collects its accounts more quickly than its competitors. b. A lender may favour Millennial Manufacturing over its competitors because of its faster collection period. c. Without prior years' data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors. d. All of the above statements may be correct.The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.
- The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22daysThe following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁A wants you to calculate its average days in accounts receivable for theyear. Its beginning and ending balances for Accounts Receivable were $11,500 and$17,250, including GST, respectively. The beginning and ending balances for theAllowance account were $350 and $500, respectively. All sales are on credit andamounted to $135,000, while the ending balance for Sales Returns & Allowances was$10,000. What is the average days in accounts receivable?a. 35.26.b. 41.98.c. 40.73d. 36.50.