TMRW Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. XYZ company has annual credit sales of $1,440,000 and an average collection period of 45 days in 2005. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average collection period. Haru company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of its credit sales?
TMRW Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. XYZ company has annual credit sales of $1,440,000 and an average collection period of 45 days in 2005. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average collection period. Haru company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of its credit sales?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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- TMRW Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average
accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. - XYZ company has annual credit sales of $1,440,000 and an average collection period of 45 days in 2005. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average collection period.
- Haru company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of its credit sales?
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