In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Apex 14.201 25.70 Summit 13.45 27.15 Crestview 12.60 28.95 Pinnacle 14.85 24.60 Industry Average 13.75 26.55 If Pinnacle's net credit sales are $892,350, what are its average net accounts receivable? a. $36,275 b. $60,090 c. $124,850 d. $72,480

In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Apex 14.201 25.70 Summit 13.45 27.15 Crestview 12.60 28.95 Pinnacle 14.85 24.60 Industry Average 13.75 26.55 If Pinnacle's net credit sales are $892,350, what are its average net accounts receivable? a. $36,275 b. $60,090 c. $124,850 d. $72,480

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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Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
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