I won't to this question answer general Accounting Bell Tolls, Inc., has an average collection period of 36 days. Its average dailyinvestment in receivables is $58,300.a. What is the receivables turnover? (Use 365 days a year. Do not roundintermediate calculations and round your final answer to 4 decimal places.(e.g., 32.1616))b. What are annual credit sales? (Use 365 days a year. Do not roundintermediate calculations and round your final answer to 2 decimal places.(e.g., 32.16))

Step 1: Define Average Collection PeriodA low collection period is favorable to the company as it…

Answered: Bell Tolls, Inc., has an average…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

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Lupo, Inc., has an average collection period of 52 days. Its average daily investment in receivables is $70,300. Assume 365 days per year. a. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) b. What are annual credit sales? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Dome Metals has credit sales of $342,000 yearly with credit terms of net 45 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 45 days to pay. a. What is the average receivables balance? (Use a 360-day year.)b. What is the receivables turnover? (Use a 360-day year.)
Maddox Resources has credit sales of $198.000 yearly with credit terms of net 30 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its customers take the full 30 days to pay. (Use 365 days in a year.) a-1. What is the average receivables balance? (Do not round Intermediate calculations. Round the final answer to nearest whole dollar.) Accounts receivable balance Receivables turnover a-2. What is the receivables turnover? (Round the final answer to 2 decimal places.) New receivable balance $ 16274 b. If Maddox offered a 2 percent discount for payment in 10 days and every customer took advantage of the new terms, what would the new average receivables balance be? Use the full sales of $198.000 for your calculation of receivables. (Do not round Intermediate calculations. Round the floal answer to nearest whole dollar.) Net Change X $ 2658 Yes No 3 c-1. If Maddox reduces its bank loans, which cost 12 percent, by the cash generated…
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
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
Can you please give me correct answer the general accounting question?
PLEASE MAKE IT IN EXCEL AND SHOW THE FORMULAS (Take screenshots) La Resolana, S.A., has credit sales of $180,000 per year, with net payment terms of 30 days, which is also the average collection period. La Resolana does not currently offer any cash discounts, so customers take the 30 days to pay. What is the average accounts receivable balance? What is the accounts receivable turnover?
Solve this accounting question not use ai
Please solve these requirements a and b and give correct answer these general accounting question
Need answer the question
What is the receivable turnover?
The accounts receivable turnover ratio of a company is 2; if its annual credit sales is $ 719550, what is the average value of outstanding credit (or value of accounts receivable)? If the company operates 355 a year, what is the average number of days it takes to get a credit sale paid? Average outstanding credit = $| (Round to TWO places of decimal) Average number of days to get payment on a credit sale =| (Round to the nearest integer)

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