• • Beginning Accounts Receivable = $800,000 Ending Accounts Receivable = $900,000 • Net Credit Sales = $7,310,000 We need to find the average collection period in days.
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- I want answerSolve this accounting question not use aiIts. 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