What was regal enterprises average collection period? Regal Enterprises has provided the followinginformation:Total Sales$1,450,000BeginningNet Accounts $58,000ReceivableEnding Net Accounts Receivable $70,500Sales Returns and Allowances$125,000What was Regal Enterprises' averagecollection period?

Explanation of Average Collection Period: This is a financial metric that measures the average…

Answered: Regal Enterprises has provided the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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Regal Enterprises has provided the following information: Total Sales $1,450,000 Beginning Net Accounts $58,000 Receivable Ending Net Accounts Receivable $70,500 Sales Returns and Allowances $125,000 What was Regal Enterprises' average collection period?