Question: In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Concord 13.95 Lewis 12.75 Danforth 11.80 Yami 13.15 Industry Average 12.50 26.45 25.45 35.25 26.90 25.75 If Yami's net credit sales are $716,675, what are its average net accounts receivable?

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 Accounts Receivable?

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In the table below the information for four companies is provided.
Company
Accounts Receivable turnover Average collection period
Concord
13.95
Lewis
12.75
Danforth
11.80
Yami
13.15
Industry Average 12.50
26.45
25.45
35.25
26.90
25.75
If Yami's net credit sales are $716,675, what are its average net accounts
receivable?
Transcribed Image Text:Question: In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Concord 13.95 Lewis 12.75 Danforth 11.80 Yami 13.15 Industry Average 12.50 26.45 25.45 35.25 26.90 25.75 If Yami's net credit sales are $716,675, what are its average net accounts receivable?
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