General accounting Calculate the Days' Receivables given that Sales = $1565and Accounts Receivable = $276.a. 60.71 daysb. 64.37 daysc. 72.46 daysd. 79.56 days

Step 1: Define Average Collection PeriodThe number of days that a company requires to convert its…

Answered: Calculate the Days' Receivables given…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9E

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Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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4 POINT
At what amount will accounts receivable be reported on the balance sheet if the gross receivable balance is $42,500 and the allowance for uncollectible accounts is estimated at 16% of gross receivables? Select one: a. $42,500 b. $35,700 c. $28,900 d. $6,800
If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio? * a. 7.14 times b. 8.69 times c. None of the choices d. 4.52 times
Net credit sales total $1,264,800. Beginning and ending accounts receivable are $38,000and $43,600, respectively. Calculate the days’ sales outstanding.a. 12 daysb. 18 daysc. 13 daysd. 9 days
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Calculate the Days' Receivables given that Sales = $1565 and Accounts Receivable = $276. a. 60.71 days b. 64.37 days c. 72.46 days d. 79.56 days