Collect it's account receivable RonCompany reports thefollowinginformation for the 2022 fiscal year:Sales on Account: $420,000Accounts Receivable: $105,000Allowance for Doubtful Accounts: $4,800Determine the average number of days it takesRon to collect its accounts receivable.

Step 1: Calculate Net Credit Sales Net Credit Sales=Sales on Account−Allowance for Doubtful Accounts…

Answered: Ron Company reports the following…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $ 7000. the expected net realizable value of the accounts receivable is?
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Ron Company reports the following information for the 2022 fiscal year: Sales on Account: $420,000 Accounts Receivable: $105,000 Allowance for Doubtful Accounts: $4,800 Determine the average number of days it takes Ron to collect its accounts receivable.