Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding accounts receivable if Company Z has a total sale of $1,800,000 of which $200,000 are cash sales and the beginning and ending accounts receivable balances are $30,000 and $50,000, respectively.

Q: What is the receivables turnover?

A: Turnover means the is the amount of sales by the business. It is sometimes called as income of the…

Q: During 2022, $99000 of uncollectible accounts r 10% of the balance in receivables (percentage o

A: The allowance is a method for estimating and accounting for probable bad debts, and the Bad Debts…

Q: Bonita Corporationreported net credit sales of $3447600 for this year. The company had accounts…

A: AVERAGE COLLECTION PERIOD Account Receivable collection period measure the quality of debtors…

Q: A company has the following account balances at the end of the year:• Credit Sales = $400,000•…

A: Bad debt expense: Bad debt expense is an expense account. The amounts of loss incurred from…

Q: Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year,…

A: The operating cycle shows the time taken to convert its inventory into cash.So, operating cycle is…

Q: Using the following information and a 360-day year, what is your estimate of the firm's current…

A: To estimate the firm's current receivables period, we use the information provided to calculate the…

Q: A company reports the following: Sales $303,680 Average accounts receivable (net) 23,360 Determine…

A: Accounts receivable turnover ratio shows how quickly company is able to collect amount from the…

Q: The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What is…

A: Receivables collection period is the average time required to receive payment from debtors. It is…

Q: Camden Hardware's credit sales for the year were $445,500. Accounts receivable at the beginning and…

A: ACCOUNT RECEIVABLE TURNOVER RATIOAccount Receivable Turnover Ratio is the Ratio between Net Sales…

Q: The annual sales of a company are $47,000 including sales tax at 17.5%. Half of the sales are on…

A: We have the following information: Annual sales of the company: $47,000 Half of the sales are on…

Q: A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your…

A: Formula: Accounts receivable turnover ratio = Net sales / Average accounts receivable Average…

Q: Barga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end…

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

Q: An entity provided the following information for the current year: Accounts receivable – January 1…

A: Recovery  of accounts  written  off is not taken in receivable  accounts.  It is an income reported…

Q: If an average age of accounts payable is 15 days, the average age of accounts receivables is 60…

A: Cash Conversion Cycle = Days Inventory outstanding + Days receivables outstanding - Days payables…

Q: A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: 7. Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

A: Days in collection of account receivable means the number of days which we take to recover the…