Twist Corp. has a current accounts receivable balance of $330,800. Credit sales for the year just ended were $3,804,200. a. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables times days c. Average collection period days
Twist Corp. has a current accounts receivable balance of $330,800. Credit sales for the year just ended were $3,804,200. a. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables times days c. Average collection period days
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Twist Corp. has a current accounts receivable balance of $330,800. Credit sales for the
year just ended were $3,804,200.
a. What is the company's receivables turnover? (Do not round intermediate
calculations. Round your answer to 2 decimal places, e.g., 32.16.)
b. What is the company's days' sales in receivables? (Use 365 days a year. Do not
round intermediate calculations. Round your answer to 2 decimal places, e.g.,
32.16.)
c. How long did it take on average for credit customers to pay off their accounts during
the past year? (Use 365 days a year. Do not round intermediate calculations. Round
your answer to 2 decimal places, e.g., 32.16.)
a.
Receivables turnover
b. Days' sales in receivables
times
days
c. Average collection period
days
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