Hi expart Provide solution these accounting question Rawe Corporation's accounts receivable at the end of Year 2 was$347,000 and its accounts receivable at the end of Year 1 was $300,000.Sales, all on account, amounted to $1,407,000 in Year 2. The company'saverage collection period for Year 2 is:a. 83.9 daysb. 77.8 daysc. 4.4 daysd. 90 days

Step 1: Define Average Collection PeriodThe average collection period (ACP) is also called days…

Answered: Rawe Corporation's accounts receivable…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 8CDQ

See similar textbooks

Similar questions

Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?
Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
Abaca Company's accounts receivable is P240,000 at the beginning of the year and 280,000 at the end of the year. Cash sales is 240,000 for the year. The accounts receivable turnover is 6x. Abaca Company's total sales for the year was P__?
A company had net sales of $29, 800and accounts receivable of S4, 400for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28A company had net sales of $29,800and accounts receivable of $4,400 for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28
Barga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $65,000; and Year 2, $123,000. a. Compute its days’ sales uncollected at the end of each year. Round the number of days to one decimal. b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?
If Hot Tubs Inc. had sales of $2,027,773 per year (all credit) and its days sales outstanding was equal to 35 days, what was its average amount of accounts receivable outstanding? (Assume a 365-day year.) * a. $ 5,556 b. $212,541 c. $194,444 d. $ 57,143 e. $ 97,222
Gandi brothers has DSO of 22 days and its annual sales on account are $7,665,000. Assume number of days in year as 365 days. Calculate the accounts receivable balance. O $550,000 O $462,000 O $410,000 O $450,000
The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
Your Company had gross sales of $505,000 and returns allowances and discounts were $5,000 for the period. Its beginning balance in accounts receivable was $82,000 and the ending balance was $78,000. What is its accounts receivable turnover?
The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of S80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the average collection period for accounts receivable in days (rounded)? O 49 days O 16 days 24 days 32 days
A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.
Barga Company's net sales for Year 1 and Year 2 are $669,000 and $750,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $56,000; and Year 2, $91,000.a. Complete the below table to calculate the days' sales uncollected at the end of each year.b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?

SEE MORE QUESTIONS

Recommended textbooks for you

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Rawe Corporation's accounts receivable at the end of Year 2 was $347,000 and its accounts receivable at the end of Year 1 was $300,000. Sales, all on account, amounted to $1,407,000 in Year 2. The company's average collection period for Year 2 is: a. 83.9 days b. 77.8 days c. 4.4 days d. 90 days