Falcon Electronics had $220,000 in sales on account last year. The beginning accounts receivable balance was $15,000, and the ending accounts receivable balance was $18,000. What is the company's average collection period?

Falcon Electronics had $220,000 in sales on account last year. The beginning accounts receivable balance was $15,000, and the ending accounts receivable balance was $18,000. What is the company's average collection period?

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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Question

What is the company's average collection period of this financial accounting question?

Falcon Electronics had $220,000 in sales on account last year.
The beginning accounts receivable balance was $15,000, and the
ending accounts receivable balance was $18,000. What is the
company's average collection period?

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