The financial statements of Nova Manufacturing report net sales of $980,000 and accounts receivable of $62,000 and $58,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?

The financial statements of Nova Manufacturing report net sales of $980,000 and accounts receivable of $62,000 and $58,000 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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The financial statements of Nova Manufacturing
report net sales of $980,000 and accounts receivable
of $62,000 and $58,000 at the beginning and end of
the year, respectively. What is the average collection
period for accounts receivable in days?

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