The 2024 financial statements of Blue Wave Technologies show annual credit sales of $42.8 million. The company had accounts receivable (net) of $5.2 million at the beginning of the year and $6.4 million at the end of the year. Calculate Blue Wave Technologies' receivable turnover ratio.
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- The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
- Compute average collection periodSuppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)Account receivable turnover
- In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning accounts receivable (net) balance of $115,700 and an ending accounts receivable (net) balance of $119,100. Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times Calculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period enter the average collection period in days rounded to 1 decimal place daysSummit Gear has an accounts receivable balance at the end of 2022 of $412,650. The net credit sales for the year are $892,740. The balance at the end of 2021 was $389,200. What is the accounts receivable turnover rate for 2022?Need help this question answer please