TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4 million. How long, on average, does it take the firm to collect on its sales?
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TICA Corporation had sales of $72 million this year. Its
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- TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4 million. How long, on average, does it take the firm to collect on its sales?How long on average does it take the firm to collect on sales?TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4 million. How long, on average, does it take the firm to collect on its sales? Help me
- TICA Corporation has sales ofHow long, on average, does it take the firm to collect on its sales?Assume the credit terms offered to your firm by your suppliers are 4/20, net 50. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 50. (Hint: Use a 365-day year.) The cost of trade credit is%. (Rounded to two decimal places.) ...
- Hendrix Corporation had annual sales of $75 million, which occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $3 million. How long, on average, does it take the firm to collect on its sales? AnswerHendrix Corporation had annual sales of $75 million, which occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $3 million. How long, on average, does it take the firm to collect on its sales?Collect on its sales ?
- If a firm has sales of $25,689,00 a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be in the firm is comparable to the industry?Suppose that Jensen Corporation has annual sales of $8.92 million, cost of goods sold of $4.73 million, average inventories of $1,580,000, and average accounts receivable of $820,000. Assuming that all of Jensen's sales are on credit, what will be the firm's operating cycle?Marino Enterprises had annual sales of $75 million that occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $3.5 million. How long, on average, does it take the firm to collect on its sales? (Round answer to nearest day) a. 15.9 days b. 17.0 days c. 19.6 days d. 22.3 days
