If Boyd Corporation has sales of 2,604 per year (all credit) and days sales outstanding of 73 days, what is the amount of accounts receivable outstanding (assume a 360-day year)?
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- Firm B has accounts receivable of $5,000,000 and annual sales of $9,000,000. What is the firm's days sales outstanding (DSO)? Assume a 365-day year.If a company has average accounts receivable of $60,000 and annual sales of $720,000, what is the DSO, assuming a 360-day year?If Hot Tubs Inc. had sales of $2,027,773 per year (all credit) and its days sales outstanding was equal to 35 days, what was its average amount of accounts receivable outstanding? (Assume a 365-day year.) * a. $ 5,556 b. $212,541 c. $194,444 d. $ 57,143 e. $ 97,222
- Baxley Brothers has a DSO of 23 days, and its annual salesare $3,650,000. What is its accounts receivable balance? Assume that it uses a 365-day year.Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)Baxley Brothers has a DSO of 46 days, and its annual sales are $5,840,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest cent.
- A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.ABCD Corporation has credit sales of $12,690,000 and receivables of $1,970,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 50 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select-YesNoItem 3 , it is days overdue.Baxley Brother has a DSO of 23 days, and its annual sales are $3,650,000. What is its accounts receivable balance? Assume that is uses a 365 day year. I must show the work. How you arrive at the answer.
- The following data are taken from the financial statements of Coronado Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $465,000. (Round answers to 1 decimal place, e.g. 1.6.) Accounts receivable turnover eTextbook and Media Save for Later (a2) 2022 2021 $525,000 $500,000 4,100,000 3,184,500 Average collection period 2022 times 2022 days 2021 2021 times Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $465,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Assistance Used Attempts: unlimited days Submit AnswerA company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year.Your company had net sales of $100,000 over the past year. One quarter of the sales were credit sales. During that time, average receivables were $5,000. The accounts receivable balance at the end of the year was $5,000. What was the average collection period? What is the average age of receivables (same answer!)? (Assume a 360-day year) O 18 days O 27 days O 36 days O 72 days O 60 days