Quick Mart has net sales on account of $700,000 and an average net accounts receivable of $350,000.
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- What is their collection period??Waka Company had cash sales of $78,275, credit sales of $97,450, sales returns and allowances of $1,500, and sales discounts of $4,875. Calculate Waka's net sales for this period.GHI Industries had total net sales of $750,000. The beginning and ending accounts receivable were $62,000 and $68,000, respectively. What is the days' sales in receivables?
- Need helpCascade Retailers had cash sales of $62,480, credit sales of$45,760, sales returns and allowances of $9,310, and sales discounts of $6,400. What is the company's net sales for this period?Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What is the average collection period? Thompson Wood products have credit sales of $2,160,000 and accounts receivable of $288,000. Compute the value of the average collection period. Lone Star Petroleum Co. has annual credit sales of $2,880,000 and accounts receivable of $272,000. Compute the value of the average collection period. Knight Roundtable Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. Darla’s Cosmetics has annual credit sales of $1,440,000 and an average collection period of 45 days in 2010. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average…
- Sanders Prime Time Company has annual credit sales of $1,800,000 and accounts receivable of $210,000. Compute the value of the average collection period.A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable turnover and average number of collectiondays. How do these numbers relate to the terms of 2/10, n/30?What is the average accounts payable balance? ?