Aguilera Corp. has a current accounts receivable balance of $335,500. Credit sales for the year just ended were $4,448,730. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Aguilera Corp. has a current accounts receivable balance of $335,500. Credit sales for the year just ended were $4,448,730. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

See similar textbooks

Similar questions

Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
Twist Corp. has a current accounts receivable balance of $328,800. Credit sales for the year just ended were $4,192,200. a. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) a. Receivables Turnover: b. Days' sales in receivables: c. Average collection period: times days days
Peterboro Supply has a current accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How long did it take on average for credit customers to pay off their accounts during the past year? Assume a 365-day year. Can you provide the formula?
If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and annual net credit sales of 11,513,000, what is accounts receivable for Vabasa? Enter your answer as a whale number rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $4,392,118.9342 as 4392119. Your Answer: Answer
Dahlia Corporation has a current accounts receivable balance of $329,800. Credit sales for the year just ended were $4,369,850. a. What is the company's receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables c. Average collection period times days days
Pujols Lumber Yard has a current accounts receivable balance of $590,150. Credit sales for the year just ended were $6,789,265. How long did it take on average for credit customers to pay off their accounts during the past year? (Enter the answer with 2 decimal places (e.g. 23.45)
The Paa Ko Corporation sells on credit terms of net 30. Its accounts are, on average, 7 days past due. Annual credit sales are $9.6 million. What is the company’s balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.)
Trout Lumber Yard has a current accounts receivable balance of $440,516. Credit sales for the year just ended were $6,354,830. a. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Please provide this question solution general accounting
Can you please solve this general accounting question?
A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number of collection days. (Do not round intermediate calculations, round your answer to two decimal places, i.e. 12.34) Using the abswer to the prvious question, how does the numbers relate to the terms of 2/10 net/30?