A company had beginning accounts receivable of $175,000. All sales were on account and totalled $550,000. Cash collected from customers totalled $650,000. What was the ending accounts receivable balance? $75,000 $175,000 $275,000 $725,000

A company had beginning accounts receivable of $175,000. All sales were on account and totalled $550,000. Cash collected from customers totalled $650,000. What was the ending accounts receivable balance? $75,000 $175,000 $275,000 $725,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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Concept explainers

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

$75,000

$175,000

$275,000

$725,000

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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