Q6. Pujols Lumber Yard has a current accounts receivable balance of $394,539. Credit sales for the year just ended were $6,236,838. How long did it take on average for credit customers to pay off their accounts during the past year? (Enter the answer with 2 decimal places (e.g. 23.45)

Q: Net credit sales for Turner Company are $200,000 for the year and the average accounts receivable…

A: Average collection period = Accounts Receivable Turnover Ratio =

Q: The following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts…

A: Accounts receivable turnover is calculated by dividing the Net credit sales by the Average accounts…

Q: A firm had credit sales of $15,750,000 last year and its days sales outstanding was 65 days.  What…

A: Given, Credit sales = $15,750,000. Days sales outstanding = 65 days.

Q: 1. Kinney Corporation estimates its uncollectible accounts as a percentage of its credit sales. The…

A: Since amount of bad debts amount is not given, we can only pass a specimen entry. bad debt Dr. xxx…

Q: A company reports the following: Sales    $572,320 Average accounts receivable (net)    20,440…

A: The question is related to Ratio Analysis. The Accounts Receivables Turonver Ratio is calculated…

Q: Ortiz Lumber Yard has a current accounts receivable balance of $450,000 and accounts payable of…

A: Days Sales Outstanding (DSO) is a financial metric that measures the average number of days it takes…

Q: A company reports the following: Sales $630,720 Average accounts receivable (net) 52,560 Determine…

A: The measure that helps in determining the efficiency of the entity in collecting its dues from the…

Q: eived a cheque from a customer whose account was previou he allowance for doubtful accounts at year…

A: Accounts receivable is money owed by a customer to the company for the product and services.…

Q: Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts…

A: On a company's balance sheet, accounts receivable are categorized as a current asset because of its…

Q: Los Altos, Inc. has an accounts receivable turnover of 20. What is the company's average collection…

A: Formula: Average collection period = 365 days / Accounts receivable turnover. Division of 365 days…

Q: Your company has net sales of $468,300 and average net receivables of $111,500 for the year. Which…

A: Step 1 Receivables Turnover Ratio =Net Sales / Average Accounts Receivables Average days to collect=…

Q: At June 1, 2022, Whispering Winds Corp. had an Accounts Receivable balance of $19,100. During the…

A: Calculate the accounts receivable balance at June 30, 2022:

Q: La Reina de Oriente, S.A., a company that sells sausages, knows that it pays its suppliers 10 times…

A: “Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: In this question, we are required to calculate accounts receivable turnover ratio and the number of…

Q: The "age" of an account receivable is the length of time that it has been outstanding. At the end of…

A: Accounts receivables is the current asset that represents the money which is to be received by…

Q: Barga Company's net sales for Year 1 and Year 2 are $661,000 and $745,000, respectively. Its…

A: Days Sales Uncollected: It is possible to anticipate the number of days that will pass until…

Q: A company reports the following: Sales $1,180,410 Average accounts receivable (net) 56,210…

A: Given: Sales = $1,180,410 Average accounts receivables = $56,210

Q: The year-end balance in accounts receivable is $300,000, the Allowance for Uncollectible Accounts…

A: Accounts Receivable Uncollectable Account Accounts Receivable is considered to be on of the…

Q: A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number…

A: Average number of collection days = 365 days / Average receivable turnover ratio Average receivable…

Q: accounts receivable turno ratio of a company is 2, annual credit sales IS $ nat is the average…

A: Given, Accounts receivable turnover = 2 Annual credit sales = $719550

Q: A company reports the following: Sales $315,360 Average accounts receivable (net) 39,420 Determine…

A: Accounts receivable turnover = ( Net Credit Sales / Average Accounts receivable ) Number of days'…

Q: 4. Assume a business sold a total of $839,500 during the current year and its accounts receivable…

A: Number of days' sales in receivables is the number of days it take to collect the accounts…

Q: The Perry Company reported Accounts Receivable, Net of $66,400 at the beginning of the year and…

A: Sales are made on cash and credit basis. The amount to be collected from sales made on credit basis…

Q: Chik's Chickens has accounts receivable of $5,533. Sales for the year were $9,000. What is its…

A: Average collection period = Accounts receivable * 365 / Net sales

Q: company reports the followin Sales $890,600 Average accounts receivable (net) 44,530 Determine (a)…

A: Ratio analysis: It refers to the quantitative technique of financial analysis that allows gaining an…

Q: Sheffield Shop had a balance in the Accounts Receivable account of $751000 at the beginning of the…

A: The average collection period measures how long it typically takes a company to collect and turn its…

Q: Red Sun Company has a current accounts receivable balance of $350,000. Credit sales for the year…

A: The average collection period, also known as the day's sales outstanding (DSO), is a measure of how…

Q: Five Star's year-end balance in accounts receivable is $2,000,000. The allowance for uncollectible…

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.…

Q: Marie's Clothing Store had an acounts receivable balance of $440,.000 at the beginning of the year…

A: Accounts receivable turnover = Net credit sales / average Accounts receivable =…

Q: Want the Answer

A: a.When a specific customer's account is identified as uncollectible, the journal entry to write off…

Q: Michaels Corp. has a current accounts receivable balance of $623,410. Credit sales for the year just…

A: Introduction: Accounts receivable turnover is the number of times a year that a business pays its…

Q: Trout Lumber Yard has a current accounts receivable balance of $440,516. Credit sales for the year…

A: Receivables turnover = Credit sales / Receivables   Days' sales in receivables = 365 days /…

Q: A company reports the following: Sales $1,460,000 Average accounts receivable (net) 100,000…

A: a. Accounts receivable turnover = Net sales / average accounts receivable Accounts receivable…

Q: The “age” of an account receivable is the length of time that it has been outstanding. At the end of…

A: Accounts receivable aging is the process of distinguishing open accounts receivable based on the…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year…

A: Accounts Receivable turnover shows efficiency of the business in collecting its accounts…