Westfield Manufacturing reported sales revenue of $890,000 during the quarter. The beginning accounts receivable balance was $72,000, and the ending accounts receivable balance was $64,000. What amount of cash was collected from customers during this period? A. $882,000 B. $890,000 C. $898,000 D. $8,000

Westfield Manufacturing reported sales revenue of $890,000 during the quarter. The beginning accounts receivable balance was $72,000, and the ending accounts receivable balance was $64,000. What amount of cash was collected from customers during this period? A. $882,000 B. $890,000 C. $898,000 D. $8,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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