ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: 20X2 20X1 Average accounts receivable $ 400,000 S 416,000 Net credit sales $2,600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day year.
ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: 20X2 20X1 Average accounts receivable $ 400,000 S 416,000 Net credit sales $2,600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day year.
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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Problem 5
ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to
accounts receivable:
teme
20X2
20X1
Average accounts receivable
$ 400,000
S 416,000
Net credit sales
$2,600,000
$3.100,000
The terms of sale are net 30 days.
Requirement:
Compute the accounts receivable turnover and the collection period. Assume a 365-day
year.
is, an](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F073c27ec-cc22-44d7-b55d-bdaecb23b598%2Faa253576-c137-44a5-bbff-173f0be4def5%2Fefe609b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Its.
Problem 5
ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to
accounts receivable:
teme
20X2
20X1
Average accounts receivable
$ 400,000
S 416,000
Net credit sales
$2,600,000
$3.100,000
The terms of sale are net 30 days.
Requirement:
Compute the accounts receivable turnover and the collection period. Assume a 365-day
year.
is, an
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