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Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round owers to 2 decinsal places, eg 4.57) Accounts receivable turnover times days Days to collect accounts receivable

Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round owers to 2 decinsal places, eg 4.57) Accounts receivable turnover times days Days to collect accounts receivable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round orwers to 2 decimal places, e 4.57) Accounts receivable turnover times Days to collect accounts receivable days eTextbook and Media List of Accounts Use the turnover ratio computed in (b) to analyze Marigold's liquidity. The turnover ratio last year was 65. This is a trend in liquidity, 7E Mostly doudy
Transcribed Image Text:Compute Marigold's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round orwers to 2 decimal places, e 4.57) Accounts receivable turnover times Days to collect accounts receivable days eTextbook and Media List of Accounts Use the turnover ratio computed in (b) to analyze Marigold's liquidity. The turnover ratio last year was 65. This is a trend in liquidity, 7E Mostly doudy
Presented below is information for Marigold Company. 1. Beginning of-the year Accounts Receivable balance was $ 18.000. 2. Net sales (all on account) for the year were $ 101600. Marigold does not offer cash discounts 3. Collections on accounts receivable during the year were $81,100. Prepare (summary) journal entries to record the items noted above. Of no mtry is required, select "No fntry" for the account titles and enter Ofor the amounts. Credit occanunt titles are autonmaticaly indernteid when the amount is entered. Do not indent maruatly) No. Account Titles and Explanation Debit Credit 1.
Transcribed Image Text:Presented below is information for Marigold Company. 1. Beginning of-the year Accounts Receivable balance was $ 18.000. 2. Net sales (all on account) for the year were $ 101600. Marigold does not offer cash discounts 3. Collections on accounts receivable during the year were $81,100. Prepare (summary) journal entries to record the items noted above. Of no mtry is required, select "No fntry" for the account titles and enter Ofor the amounts. Credit occanunt titles are autonmaticaly indernteid when the amount is entered. Do not indent maruatly) No. Account Titles and Explanation Debit Credit 1.
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