Marshall Corporation reported the following data for 2024: • Net credit sales: $900,000 ⚫ Beginning accounts receivable (net): $82,000 ⚫ Ending accounts receivable (net): $94,000 Calculate: a) Accounts receivable turnover b) Average collection period in days

Marshall Corporation reported the following data for 2024: • Net credit sales: $900,000 ⚫ Beginning accounts receivable (net): $82,000 ⚫ Ending accounts receivable (net): $94,000 Calculate: a) Accounts receivable turnover b) Average collection period in days

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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Question

General accounting

Marshall Corporation reported the following data for 2024:
•
Net credit sales: $900,000
⚫ Beginning accounts receivable (net): $82,000
⚫ Ending accounts receivable (net): $94,000
Calculate: a) Accounts receivable turnover b) Average collection period in
days

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The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁