The financial statements of Gentry Manufacturing Company report net sales of $500,000 and account receivable of $90,000 and $50,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?

The financial statements of Gentry Manufacturing Company report net sales of $500,000 and account receivable of $90,000 and $50,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Given answer financial accounting

The financial statements of Gentry Manufacturing
Company report net sales of $500,000 and account
receivable of $90,000 and $50,000 at the beginning and
end of the year, respectively. What is the average
collection period for accounts receivable in days?

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