A company's accounts receivable shows $180,000 at year-end. If their average collection period is 45 days (using 360-day year), calculate their annual credit sales.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
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A company's accounts receivable
shows $180,000 at year-end. If their
average collection period is 45 days
(using 360-day year), calculate their
annual credit sales.
Transcribed Image Text:A company's accounts receivable shows $180,000 at year-end. If their average collection period is 45 days (using 360-day year), calculate their annual credit sales.
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