Madison Electronics Company had net accounts receivable of $340,000 at the beginning of the year and $420,000 at the end of the year. Net sales revenue for the year was $2,800,000. What are the days to collect from customers? A. 39.4 days B. 42.8 days C. 49.6 days D. 53.2 days

Madison Electronics Company had net accounts receivable of $340,000 at the beginning of the year and $420,000 at the end of the year. Net sales revenue for the year was $2,800,000. What are the days to collect from customers? A. 39.4 days B. 42.8 days C. 49.6 days D. 53.2 days

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Madison Electronics Company had net accounts receivable of $340,000 at
the beginning of the year and $420,000 at the end of the year. Net sales
revenue for the year was $2,800,000.
What are the days to collect from customers?
A. 39.4 days
B. 42.8 days
C. 49.6 days
D. 53.2 days

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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What is the companys average collection period?
What was the average collection period?
What is the average collection period in days ?