Answered: Net sales total $803,000 Beginning and…

Net sales total $803,000 Beginning and ending accounts receivable are $80,000 and $74,000, respectively. Calculate days' sales in receivables. Help me to solve this accounting Question.

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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Net sales total $803,000 Beginning and
ending accounts receivable are
$80,000 and $74,000, respectively.
Calculate days' sales in receivables.
Help me to solve this accounting
Question.

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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
During its first year of operations, Pharoah Company had credit sales of $2,751,000, of which $366,200 remained uncollected at year-end. The credit manager estimates that $19,200 of these receivables will become uncollectible. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pharoah Company, assuming that in addition to the receivables it has cash of $85,350, merchandise inventory of $189,550, and supplies of $12,900. (List current assets in order of liquidity) Pharoah Company Balance Sheet (partial) $
Calculate the days sales in receivable?
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Based on the following data for the current year, what is the number of days' sales in receivable? Net sales on account during year $498,171 Cost of goods sold during year 163,215 Accounts receivable, beginning of year 42,207 Accounts receivable, end of year 51,640 Inventory, beginning of year 92,904 Inventory, end of year 119,969 Round your answer up to the nearest whole day. Select the correct answer. 88 days 78 days 120 days 34 days
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