In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning accounts receivable (net) balance of $115,700 and an ending accounts receivable (net) balance of $119,100. Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times Calculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period enter the average collection period in days rounded to 1 decimal place days
In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning accounts receivable (net) balance of $115,700 and an ending accounts receivable (net) balance of $119,100. Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times Calculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period enter the average collection period in days rounded to 1 decimal place days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning accounts receivable (net) balance of $115,700 and an ending accounts receivable (net) balance of $119,100.
Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)
|
Accounts receivable turnover
|
enter the accounts receivable turnover in times rounded to 1 decimal place | times |
Calculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
|
Average collection period
|
enter the average collection period in days rounded to 1 decimal place | days |
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