Carson Industries had $245,000 in credit sales last year. The beginning accounts receivable balance was $15,000 and the ending accounts receivable balance was $25,000. Calculate the company's average collection period (round to one decimal place).

Carson Industries had $245,000 in credit sales last year. The beginning accounts receivable balance was $15,000 and the ending accounts receivable balance was $25,000. Calculate the company's average collection period (round to one decimal place).

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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given answer General accounting

Carson Industries had $245,000 in credit sales last
year. The beginning accounts receivable balance was
$15,000 and the ending accounts receivable balance
was $25,000. Calculate the company's average
collection period (round to one decimal place).

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