Harvest Financial purchased $280,000 in accounts receivable from Pioneer Industries for $259,000. After 60 days, Harvest Financial collected $272,000 from the receivables. What was the annualized rate of return on this investment for Harvest Financial?
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- General accountingEvergreen Corp. has a current accounts receivable balance of $625,000. Credit sales for the year just ended were $6,750,000. a) What is the company's receivables turnover? b) What is the company's days' sales in receivables? c) How long did it take on average for credit customers to pay off their accounts during the past year?Wilson Finance purchased $200,000 in accounts receivable from Harrison Manufacturing for $185,000. After 120 days, Wilson Finance was able to collect $195,000 from the receivables. Determine the rate of return on this investment for Wilson Finance.
- Can you demonstrate the accurate method for solving this financial accounting question?Return on this invesBoom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just ended were $4,238,720. What is the receivables turnover? What is the day's sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?
- What is it's accounts receivable balance on these general accounting question?Boom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just ended were $4,238,720. What is the receivables turnover? What is the day's sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?(general Account)What is the average investment in receivables of this financial accounting question?