Harvey Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of $410,000 at the end of the year. Net credit sales during the year amounted to $3,000,000. The average collection period of the receivables in terms of days was   - 30 days.   - 365 days.   - 274 days.   - 48.7 days.

Q: Using the data in the preceding question, assume accounts receivable had a beginning balance of…

A: Given information is: Net credit Sales = $807,800 Beginning Account Receivables = $67,400 Ending…

Q: Valenzuela, Incorporated, has a cash cycle of 45.5 days, an operating cycle of 67 days, and an…

A: Operating cycle is calculated by taking the inventory turnover days and the account receivable days…

Q: At year-end, Snow has cash of $16,000, current accounts receivable of $90,000, merchandise inventory…

A: Accounts receivable is the term used to describe the money that consumers owe a business for…

Q: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

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: The credit manager of Montour Fuel has gathered the following information about the company’s…

A: Uncollectible accounts: Uncollectible accounts refer to that part of receivables which become…

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: Winslow Department S

A: Inventory turnover ratio = Cost of goods sold / Average inventory Inventory turnover ratio =…

Q: Take me to the text Sleiger Spa has a net accounts receivable opening balance of $223,000 and and…

A: Given, Sleiger Spa Net accounts receivable opening balance= $223,000. Ending balance= $176,000.…

Q: If Emperium Inc. had credit sales of 2,027,773 per year and its days sales outstanding was equal to…

A: Days Sales or Receivables Outstanding means the number of days it takes a company to realize cash…

Q: On the first day of Year Two, the Richmond Corporation holds accounts receivable of $400,000 and an…

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

Q: Barga Co.'s net sales for Year 1 and Year 2 are $662,000 and $748,000, respectively. Its year-end…

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

Q: Barga Company's net sales for Year 1 and Year 2 are $669,000 and $750,000, respectively. Its…

A: Solution:- a)Calculation of  the days' sales uncollected at the end of each year as follows under:-

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: Pujols Lumber Yard has a current accounts receivable balance of $590,150. Credit sales for the year…

A: In this question, we are required to determine the Days Sales Outstanding (DSO).

Q: As of January 1 of the current year, Phyllis Company had accounts receivable of $50,000. The sales…

A: A cash budget is an estimation of income and expenditures on the basis of past performance or…

Q: A 33- day days sales outstanding is maintained by the Bebop Corporation. Each day, the company…

A: Days sales outstanding is one of important ratio used in business to evaluate efficiency of…

Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…

A:

Q: Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year,…

A: The operating cycle shows the time taken to convert its inventory into cash.So, operating cycle is…

Q: Corentine Company had $152,000 of accounts payable on September 30 and $132, 500 on October 31.…

A:

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Solution:- Given, Winsor Clothing Store had a balance in the Accounts Receivable account at…

Q: At year-end, Sally, Inc. has cash of $14,000, current accounts receivable of $70,000, merchandise…

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

Q: Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The…

A: Allowance for doubtful accounts means where we expect some debts to become bad in near future then…

Q: Allgood Pet Supplies reported net credit sales of $3,200,000 and cost of goods sold of $2,600,000…

A: Accounts receivable turnover rate is the ratio between between credit sales and average accounts…

Q: Calvani, Inc., has a cash cycle of 43.5 days, an operating cycle of 63 days, and an inventory period…

A: Variables in the question:Cash cycle=43.5 daysOperating cycle=63 daysInventory period=27 days Cost…

Q: During the current year, Watanabe’s Camera Shop had sales revenue of $210,000, of which $86,400 was…

A: Here , to calculate the company bad debts expense , we need to prepare two account i.e. Account…

Q: Acompany has net sales of $1,340,000, beginning accounts receivable of $500,000, and ending accounts…

A: Days to Collect Accounts Receivable means A company wants to assess the effectiveness of a company's…

Q: During the current year, Khan’s Camera Shop had sales revenue of $220,000, of which $100,800 was on…

A: Bad debts expense refers to an expense for recording accounts receivable which are uncollectible…

Q: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning…

A: Average Accounts receivable = (Beginning Accounts receivable + Ending Accounts receivable) / 2 =…

Q: Barga Co.'s net sales for Year 1 and Year 2 are $665,000 and $749,000, respectively. Its year-end…

A: Days sales uncollected indicates the cash collection from its sales. It can be calculated by…

Q: As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The…

A: A cash budget is an estimation of income and expenditures on the basis of past performance or…

Q: The January 1 balance in accounts receivable was $22,000. All sales during the period were on credit…

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Q: company has annual sales of $120,000, average accounts payable of $35,000, and average accounts…

A: Days of sales outstanding is calculated by dividing number of days in a year by accounts receivable…

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

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Q: iary calculations to two decimal places and your final answer to the nearest day.)   A. 54 days.

A: The right answer is c]option C. 46 days.

Q: The following information relates to a company's accounts receivable: gross accounts receivable…

A: Bad debt expense :— It is the amount of sales that are no longer collectible from customers during…

Q: As of January 1 of the current year, Grayson Company had accounts receivable of $40,000. The sales…

A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

Q: A company reports the following: Line Item Description Amount Sales $1,069,085 Average…

A: The objective of this question is to calculate the accounts receivable turnover and the days' sales…

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…

Q: As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The…

A: Cash collection means the total amount of money estimated to be collected by the entity from the…

Q: Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the…

A: A ratio that provides information regarding the company’s efficiency to collect their accounts…

Q: The financial statements of the Sunland Company report net sales of $384000 and accounts receivable…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…