Based on the information given below, what is the "Days Revenue inAccounts Receivable" for the quarter ending September 30? For thisproblem, assume that the quarter has 90 days. (Round your answer to 2decimal places. For example, 12.3456 should be entered as 12.35.)MonthRevenues A/R at End of QuarterJuly*186,04926,843August208,03385,406September 209,96863,674TOTALS??

Answered: Based on the information given below,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The Amherst Corporation has a 45-day accounts receivable period. The estimated quarterly sales for this year are $28,000, $41,000, $35,500, and $32,500, respectively, for the next four quarters. What is the accounts receivable balance at the beginning of the quarter 2? Each quarter has 90 days. Multiple Choice $36,750 $34,500 $20,500 $14,000 $28,000
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A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding 1-30 days 31-60 days 61-90 days Over 90 days Accounts Est. Percent Receivable Uncollectible $65,000 3% $43,000 5% $25,000 10% $6,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $700. Under the aging-of-receivables method, the balance in the Allowance for Uncollectible Accounts will be after the adjusting entry is made. OA. $9,020 OB. $1,250 OC. $10,420 OD. $9,720
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44. Subject :- Accounting
Please written by computer source For the period beginning October 14, the average daily balance on Perry’s credit card was $810. If the balance at the end of the cycle was $465 and the APR on the card is 7.5%, what was the balance due on November 14?
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The “age” of an account receivable is the length of time that it has been outstanding. At the end of October, a firm had $12,570 in receivables that are 30 days old, $6850 in receivables that are 60 days old, and $1325 in receivables that are 90 days old. What is the average age of its accounts receivable at the end of October?

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