NM Company deals with exotic fruits and vegetables. The average receivable was $9,300 in 2021. The total revenue/sales for the year 2021 amounted to $79,350. The value of sales for the year 2022 is forecasted to be $82,000. The average collection period remains the same as that of the year 2021. The company uses the average turnover rate to forecast the accounts receivables for the year ending 2022. What will be the forecasted accounts receivables for the year ending 2022? (Round off intermediate calculations to two decimal places and final answer to the nearest value). Choose an answer A The forecasted accounts receivables for the year ending 2022 amount to $9,613. B The forecasted accounts receivable for the year ending 2022 amounts to $6,522. C The forecasted accounts receivable for the year ending 2022 amount to $9,300. D The accounts receivable for the year ending 2022 cannot be forecasted.
NM Company deals with exotic fruits and vegetables. The average receivable was $9,300 in 2021. The total revenue/sales for the year 2021 amounted to $79,350. The value of sales for the year 2022 is forecasted to be $82,000. The average collection period remains the same as that of the year 2021. The company uses the average turnover rate to forecast the accounts receivables for the year ending 2022. What will be the forecasted accounts receivables for the year ending 2022? (Round off intermediate calculations to two decimal places and final answer to the nearest value). Choose an answer A The forecasted accounts receivables for the year ending 2022 amount to $9,613. B The forecasted accounts receivable for the year ending 2022 amounts to $6,522. C The forecasted accounts receivable for the year ending 2022 amount to $9,300. D The accounts receivable for the year ending 2022 cannot be forecasted.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:NM Company deals with exotic fruits and vegetables. The average receivable was $9,300 in 2021. The
total revenue/sales for the year 2021 amounted to $79,350.
The value of sales for the year 2022 is forecasted to be $82,000. The average collection period remains
the same as that of the year 2021.
The company uses the average turnover rate to forecast the accounts receivables for the year ending
2022. What will be the forecasted accounts receivables for the year ending 2022? (Round off intermediate
calculations to two decimal places and final answer to the nearest value).
Choose an answer
A
The forecasted accounts receivables for the year ending 2022 amount to $9,613.
B
The forecasted accounts receivable for the year ending 2022 amounts to $6,522.
с
The forecasted accounts receivable for the year ending 2022 amount to $9,300.
D
The accounts receivable for the year ending 2022 cannot be forecasted.
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