XYZ Corp had $240,000 in credit sales. Beginning accounts receivable was $15,000 and ending was $21,000. Calculate the average collection period.
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- Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: 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.Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
- Elite Services Inc. had total net credit sales of $900,000 for the year. The beginning accounts receivable balance was $70,000, and the ending balance was $90,000. Calculate the accounts receivable turnover ratio. • Determine the average collection period in days.Calculate the average collection period in days ?Sanders Prime Time Company has annual credit sales of $1,800,000 and accounts receivable of $210,000. Compute the value of the average collection period.
- XYZ Company has the following information: Beginning accounts receivable: $50,000 Ending accounts receivable: $60,000 Credit sales: $200,000 Cash collections: $180,000 Calculate the company's accounts receivable turnover ratio and average collection period.AbcA firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable turnover and average number of collectiondays. How do these numbers relate to the terms of 2/10, n/30?
- Quality Products has the following data: beginning accounts receivable $35,000, credit sales $420,000, cash collections $390,000, and write-offs $5,000. What is the ending accounts receivable balance?Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What is the average collection period? Thompson Wood products have credit sales of $2,160,000 and accounts receivable of $288,000. Compute the value of the average collection period. Lone Star Petroleum Co. has annual credit sales of $2,880,000 and accounts receivable of $272,000. Compute the value of the average collection period. Knight Roundtable 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. Darla’s Cosmetics has annual credit sales of $1,440,000 and an average collection period of 45 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 time the average…Abc