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...

See similar textbooks

Related questions

Q: Ms. Sharon Washton was born 26 years ago in Bahn, Germany. She is the daughter of a Canadian High…

A: Residency for tax purposes is determined by a variety of factors. These can include the location of…

Q: calculate the ROI

A: Step 1: Understanding the ROI Formula Return on Investment (**ROI**) can be calculated using the…

Q: Find operating cash flow

A: Step 1: Given Value for Calculation Earning Before Interest and Taxes = EBIT = $1450Depreciation = d…

Q: Hello tutor please help me

A: Step 1: Definition of Long-Term InvestmentsLong-term investments are assets that a company plans to…

Q: Need answer financial accounting question

A: Step 1: Define Payroll-Related ExpensesPayroll-related expenses include costs directly borne by the…

Q: Need help this question

A: Step 1: Definition of Gross Profit MarginGross Profit Margin is a profitability ratio that measures…

Q: Answer ?? financial accounting question

A: Step 1: Define Profit Margin RatioThe Profit Margin Ratio measures the percentage of sales revenue…

Q: Need help

A: Time Efficiency AnalysisIdle Time Consideration:Waiting time (12 minutes to copy + 10 minutes to…

Q: At what amount should brandon ltd. Record patent u?

A: Explanation of Patent: A patent is an intangible asset that gives its owner exclusive rights to an…

Q: Yield on the bond if it can be purchased for 1500?

A: Step 1: Identify Given ValuesStep 2: Use the Current Yield FormulaStep 3: Substitute the ValuesStep…

Q: Hi expert please help me this question

A: Express Copy provides small businesses with copying and binding on a walk-in basis. A standard…

Q: choose best answer ?

A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the total…

Q: need this subjects solutions

A: To calculate the Return on Assets (ROA), we use the formula: ROA =(Net Income / Total Assets) × 100…

Q: What is its dividend yield on these financial accounting question?

A: Step 1: Definition of Dividend YieldDividend yield is a financial ratio that shows how much a…

Q: Kindly help me with accounting questions

A: Step 1: Definition of Free Cash FlowFree Cash Flow (FCF) is the measure of a company's financial…

Q: Marcos Manufacturing assigned a $220,000 standard direct materials cost to its output for the…

A: Explanation of Standard Direct Materials Cost:Standard direct materials cost refers to the…

Q: compute the cash conversion cycle for both years.

A: Step 1: Definition of the Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) measures how…

Q: Can you help me with accounting questions

A: Step 1: Definition of Return on Common Stockholders' Equity (ROE)Return on Common Stockholders'…

Q: Blossom Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead…

A: To determine the amount of under- or overapplied manufacturing overhead at December 31, we follow a…

Q: FINANCIAL ACCOUNTING 2

A: Explanation of ROE (Return on Equity): Return on Equity is a crucial financial metric that measures…

Q: Need help with this question solution general accounting

A: Step 1: Definition of Employer Payroll TaxesEmployer payroll taxes are taxes imposed on employers…

Q: Correct answer please

A: Step 1: Definition of Labor Efficiency VarianceLabor Efficiency Variance measures the difference…

Q: general accounting

A: Step 1: Definition of Operating LeverageOperating leverage measures how sensitive a company's…

Q: Hello Teacher Sol This question

A: Step 1: Definition of Cost-Volume-Profit (CVP) AnalysisThe CVP analysis is considered to figure out…

Q: Financial Accounting

A: Step 1: Definition of Cash Collections from CustomersCash Collections from Customers represent the…

Q: Provide correct option with calculation step by step

A: Step 1: Definition of Owner's EquityOwner's equity represents the residual interest in the assets of…

Q: Provide correct answer general accounting

A: Step 1: Define Return on Common Stockholders' EquityReturn on Common Stockholders' Equity (ROE)…

Q: tell me correct solutions

A: Step 1:Definition of Interest Expenses and Depreciation & AmortizationA firm's ongoing expenses…

Q: General Accounting

A: Step 1: Define Compound InterestCompound interest is the method of calculating interest where the…

Q: ans

A: %Change in Output = New Output−Old Output ×100 / Old Output =48,00073,920−48,000×100…

Q: Bradley Industries applies manufacturing overhead on the basis of direct labor-hours. At the…

A: Explanation of Direct Labor Hours: Direct labor hours represent the time workers spend directly…

Q: I don't know answer please help me this question solution

A: Step 1: Definition of Total Job Cost Under Job-Order CostingTotal Job Cost under Job-Order Costing…

Q: What was the underapllied or overapplied overhead for the month?

A: Explanation of Direct Labor Hours: Direct labor hours refer to the time spent by workers who are…

Q: Need help with this financial accounting question not use ai

A: Step 1: Definition of Interest ExpenseInterest expense is the cost incurred by a borrower for using…

Q: Hello tutor please help me this question solution

A: Step 1: Definition of Key TermsContribution Margin (CM):Contribution margin represents the amount of…

Q: Accounting question

A: Step 1: Define Money MultiplierThe money multiplier is the maximum amount of money a banking system…

Q: can you please solve this

A: Solution: Finding the Price-to-Earnings (P/E) Ratio To determine the Price-to-Earnings (P/E) ratio…

Q: What is the projected operating cash flow for this replacement project of this financial accounting…

A: Step 1: Define Operating Cash Flow (OCF)Operating Cash Flow (OCF) is the cash generated from a…

Q: Calculate summit's net income for the year on these financial accounting question

A: Step 1: Define Net IncomeNet income is the total profit of a business after deducting all expenses…

Q: Need correct answer general Accounting question

A: Step 1: Define Deductible Organizational ExpendituresOrganizational expenditures are costs incurred…

Q: What is the depreciation base of the machine?

A: Explanation of Depreciable Base:The depreciable base is the portion of an asset's cost that can be…

Q: Carecter answer is

A: Step 1: Definition of Contribution Margin AnalysisThe contribution margin analysis for a firm…

Q: Need help with this question solution general accounting

A: Step 1: Raw materials used Assuming that all raw materials are direct materialsRaw materials used =…

Q: Ans ? General Accounting question

A: Step 1: Define Total ReturnTotal Return measures the overall profitability of an investment,…

Q: answer

A: Step 1: Definition of Asset Turnover RatioAn efficiency ratio that analyzes the potential of a…

Q: What is the a and b answer ? General Accounting

A: Step 1: Define the High-Low MethodThe High-Low Method is used to estimate variable costs and fixed…

Q: Answer? Financial accounting question

A: Step 1: Define Cash from Financing ActivitiesCash from financing activities represents the net cash…

Q: Provide correct option with calculation

A: If you have any questions let me know in the comment box thankyou.

Q: What is the value of this investment for these financial accounting question?

A: Step 1: Definition of Perpetuity ValuationPerpetuity valuation is the process of determining the…

Q: Sheffield corp. is constructing a building. construction began in 2025 and the building was…

A: Step 1: Information related to payments$2,508,000 on 3/1/25 - Outstanding for 10 months…

Question

I don't need ai answer accounting questions

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

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
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.
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, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. 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.
Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?
Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were 4,562,500 and accounts receivable averaged 437,500. Half of Grunewalds customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewalds nondiscount customers? (Hint: Calculate daily sales based on a 365-day year, calculate the average receivables for discount customers, and then find the DSO for the nondiscount customers.)
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.
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.
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
What is the companys average collection period?
What is the average collection period in days ?
What is the company's average collection period on these general accounting question?