cost accounting Lighthouse Co. has annual credit sales of $2,190,000 andaccounts receivable of $182,500.What is the average collection period (DSO)?a. 28.25 daysb. 20.42 daysc. 35.00 daysd. 30.42 days

Step 1: Definition of Average Collection Period (Days Sales Outstanding - DSO)The Average Collection…

Answered: Lighthouse Co. has annual credit sales…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

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Similar questions

Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
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Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 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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Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?
Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.
What is the average collection period?
What are annual credit sales ? General accounting
The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
Please provide correct answer accounting question
General accounting
Net credit sales total $1,264,800. Beginning and ending accounts receivable are $38,000and $43,600, respectively. Calculate the days’ sales outstanding.a. 12 daysb. 18 daysc. 13 daysd. 9 days

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Lighthouse Co. has annual credit sales of $2,190,000 and accounts receivable of $182,500. What is the average collection period (DSO)? a. 28.25 days b. 20.42 days c. 35.00 days d. 30.42 days