A firm had credit sales of $15,750,000 last year and its days sales outstanding was 65 days.  What was its average receivables balance, based on a 365-day year?   1. $1,294,521   2. $3,412,500   3. $7,269,231   4. $2,804,795   5. $4,389,657

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A: Ratio analysis is one of useful technique used. Under this, various calculations are done on…

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A: Hi student Since there are multiple questions, we will answer only first question. If you want…

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A:

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A: In this we have to calculate the receivable turnover ratio using the formula.

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A: Accounts receivable are the people who owe the company. In simple words these are the people who…

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Q: Assuming 77 percent of sales are on credit, what is the company's days' sales in receivables?

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A: Average collection period is the time taken by the company to collect the funds from its…

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A: Given, Accounts receivable turnover = 2 Annual credit sales = $719550

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A: The answer is as fallows

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A: Question is based on the concept of Financial ratios

Receivables Management