Carson Industries shows the following account balances at year-end: • • Accounts Receivable balance: $475,000 Estimated uncollectible accounts: $38,000
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- 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.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.Jinx Company provided the following information for the current year in relation to accounts receivable: Accounts receivable, January 1 1,300,000Credit sales 5,500,000Sales return 150,000Accounts written off 100,000Collections from customers 5,000,000Estimated future sales return on December 31 50,000Estimated uncollectible accounts per aging at year-end 250,000 What amount should be reported as net realizable value of accounts receivable on December 31?
- A company reports the following: Sales $1,180,410 Average accounts receivable (net) 56,210 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover ___________ b. Number of days' sales in receivables ___________ daysA company reports the following: Sales $315,360 Average accounts receivable (net) 39,420 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivablesA company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year.
- A company reports the following: Sales $890,600 Average accounts receivable (net) 44,530 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover 20 b. Number of days' sales in receivables 18 X daysCompute the company's receivables turnover ratio? General accountingA company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.
- 3A company reports the following: Sales $1,332,250 Average accounts receivable (net) 53,290 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover fill in the blank 1 b. Number of days' sales in receivables fill in the blank 2 daysA company reports the following: Sales $572,320Average accounts receivable (net) 20,440Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover fill in the blank 1b. Number of days' sales in receivables fill in the blank 2 days