Trenton Manufacturing Corp. reported the following amounts on its 2016 and 2017 financial statements: Accounts receivable 2017 2016 $275,000 $245,000 Allowance for bad debts $14,000 $10,000 Net sales Cost of sales 1. $1,520,000 $1,390,000 $1,180,000 $945,000 Compute the accounts receivable turnover for 2017. 2. What is the average collection period during 2017? (Use 365 days.)

Trenton Manufacturing Corp. reported the following amounts on its 2016 and 2017 financial statements: Accounts receivable 2017 2016 $275,000 $245,000 Allowance for bad debts $14,000 $10,000 Net sales Cost of sales 1. $1,520,000 $1,390,000 $1,180,000 $945,000 Compute the accounts receivable turnover for 2017. 2. What is the average collection period during 2017? (Use 365 days.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...

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Comute the account receivable turnover