Excerpts from Huckabee Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $ 80,000 $ 72,000 Merchandise inventory 58,000 72,000 Net sales 400,000 372,000 Cost of goods sold 240,000 220,000 Huckabee's 2024 average collection period (rounded) is:

Excerpts from Huckabee Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $ 80,000 $ 72,000 Merchandise inventory 58,000 72,000 Net sales 400,000 372,000 Cost of goods sold 240,000 220,000 Huckabee's 2024 average collection period (rounded) is:

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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	2024	2023
Accounts receivable	$ 80,000	$ 72,000
Merchandise inventory	58,000	72,000
Net sales	400,000	372,000
Cost of goods sold	240,000	220,000

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