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 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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- 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?A firm has sales of $1.6 million, and 25 percent of the sales are for cash. The year-end accounts receivable balance is $175,000.What is the average collection period?
- What will be new level of accounts receivable?he Brenmar Sales Company had a gross profit margin (gross profits÷sales) of 34 percent and sales of $8.3 million last year. 79 percent of the firm's sales are on credit, and the remainder are cash sales. Brenmar's current assets equal $1.5 million, its current liabilities equal a. If Brenmar's accounts receivable equal $563,000, what is its average collection period? b. If Brenmar reduces its average collection period to 25 days, what will be its new level of accounts receivable? c. Brenmar's inventory turnover ratio is 8.9 times. What is the level of Brenmar's inventories? $303,100, and it has $104,400 in cash plus marketable securities.What is the DSO?
- What will be the firm's operating cycle?The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on credit terms; half are cash sales. The receivables in the statement of financial position are $23,500. What are the receivable days (to the nearest day)?Need answer the question