In 2015, Hillcrest Company had net credit sales of $1,500,000 for the year. It had a beginning accounts receivable (net) balance of $120,000 and an ending accounts receivable (net) balance of $140,000. Compute Hillcrest Company's (a) accounts receivable turnover and (b) average collection period in days.

In 2015, Hillcrest Company had net credit sales of $1,500,000 for the year. It had a beginning accounts receivable (net) balance of $120,000 and an ending accounts receivable (net) balance of $140,000. Compute Hillcrest Company's (a) accounts receivable turnover and (b) average collection period in days.

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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