Monarch Industries reported net sales of $93,000. The beginning accounts receivable was $16,400, the ending and receivable was $20,600. accounts What is the days sales collected for Monarch Industries? (Rounded answer to nearest day)

Monarch Industries reported net sales of $93,000. The beginning accounts receivable was $16,400, the ending and receivable was $20,600. accounts What is the days sales collected for Monarch Industries? (Rounded answer to nearest day)

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

What is the days sales collected

Monarch Industries reported net
sales of $93,000. The beginning
accounts receivable was $16,400,
the ending
and
receivable was $20,600.
accounts
What is the days sales collected
for Monarch Industries? (Rounded
answer to nearest day)

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The following data was generated as of December 31Accounts receivable, Jan 1 550,000.00Accounts receivable collected 875,000.00Cash Sales 350,000.00Inventory, January 1 450,000.00Inventory, December 31 275,000.00Purchases 950,000.00Gross Margin on Sales 375,000.00 a.) How much is the total sales?b.) How much is the cost of sales?c.) How much is the ending Receivable as of Dec 31?d.) How is the credit sales?
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