Summit Electronics has net credit sales of $1,250,000 for 2024. The company had a beginning accounts receivable (net) balance of $52,000 and an ending accounts receivable (net) balance of $48,000. Calculate: a) Accounts receivable turnover b) Average collection period in days

Summit Electronics has net credit sales of $1,250,000 for 2024. The company had a beginning accounts receivable (net) balance of $52,000 and an ending accounts receivable (net) balance of $48,000. Calculate: a) Accounts receivable turnover b) Average collection period in days

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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Question

Summit electronics has net credit sales of solve this question general Accounting

Summit Electronics has net credit sales of $1,250,000 for 2024.
The company had a beginning accounts receivable (net) balance
of $52,000 and an ending accounts receivable (net) balance of
$48,000. Calculate:
a) Accounts receivable turnover
b) Average collection period in days

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