Given answer general Accounting question A company's accounts receivable turnover ratiois 15. What is their average collection period (indays)?

Step 1: Define Average Collection Period (ACP)The Average Collection Period (ACP) is the average…

Answered: A company's accounts receivable…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Similar questions

What is accounts payable turnover?a. Purchases on account divided by average accounts payableb. A measure of liquidityc. A measure of the number of times a year a company is able to pay its accounts payabled. All of the listed answers are correct.
calculate these (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days
The numerator in calculating the accounts receivable turnover is a. average accounts receivable b. accounts receivable at year-end c. sales d. total assets
Accounts receivable turnover is 4. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used?
How long is it's operating cycle of this financial accounting question?
Which of the following calculations of receivable turnover is correct? A. Number of days in the year divided by receivable turnover. B. Net sale on account divided by average receivables. C. Cost of goods sold divided by average inventory. D. Net income divided by net sales.
What is its accounts receivable turnover for the period on this general accounting question?
Dividing net sales on account by the average amount of net accounts receivable is the calculation for the a.merchandise inventory turnover. b.working capital turnover. c.plant and equipment turnover. d.accounts receivable turnover.
What is its accounts receivable turnover for the period?
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. The operating cycle is equal to which one of the following? A. Inventory period plus the accounts payable period B. Accounts receivable period plus the cash cycle C. Inventory period minus the accounts payable period plus the accounts receivable period D. Accounts receivable period plus the inventory period E. Inventory period plus the cash cycle
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 days

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A company's accounts receivable turnover ratio is 15. What is their average collection period (in days)?