Kindly help me with accounting questions Sunrise Industries reported annual salesof $48 million and maintained an averageaccounts receivable balance of $4 million.How long, on average, does it take thecompany to collect on its sales?

Step 1: Definition of Average Collection Period (ACP)The Average Collection Period measures the…

Answered: Sunrise Industries reported annual…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter16: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P

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An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable. Sales = $93,398Cost of Goods Sold (COGS) = $36,052Cash Cycle = 22 daysOperating Cycle = 86 daysAccounts Receivable Period = AR Period = Average Collection Period (ACP) = 40 daysWhat is the company's Accounts Payable balance?
The manana corporation had sales solve this accounting questions
Flying Tigers, Inc., has net sales of $722,000 and accounts receivables of $152,000. What is the firm's accounts receivables turnover? (Give your answer up to two decimal places)
The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of $55200 and $27600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)
Crane Corp.currently has accounts receivable of $1,093,000 on net sales of $7,334,000. What are its accounts receivable turnover ratio and days' sales outstanding (DSO)? (Round accounts receivable turnover ratio answer to 2 decimal places, e.g. 12.25 and days' sales outstanding answer to 1 decimal place, e.g. 12.2. Use 365 days for calculation.)
What is the accounts receivable turnover for techno ware inc. Of this general accounting question?
Your company has net sales of $468,300 and average net receivables of $111,500 for the year. Which of the following statements is correct? (Round all calculations to one decimal place.) (a) The receivables turnover ratio is 4.2 and the days-to-collect is 0.01. (b) The receivables turnover ratio is 0.2 and the days-to-collect is 1,520. (c) The receivables turnover ratio is 4.2 and the days-to-collect is 86.9. (d) The receivables turnover ratio is 0.2 and the days-to-collect is 87.6.
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The financial statement of Minnesota Mining and Manufacturing Company ( 3M ), report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.8 billion at the end of the year. Compute 3M's account receivable turnover. Compute 3M's average collection period for accounts receivable in days.
Blue Air Inc., has net sales of $735,000 and accounts receivables of $164,000. What are the firm's accounts receivables turnover? Round to two decimal places.

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Sunrise Industries reported annual sales of $48 million and maintained an average accounts receivable balance of $4 million. How long, on average, does it take the company to collect on its sales?