You are given the following information: STARTING Inventory A/R A/P Credit Sales COGS $10,576 $5,129 $7,991 $92,136 $60,777 ENDING $10,336 ? $7,395 If you are told that the cash cycle for this firm is 37.520 days, what is the value of the ending accounts receivable for the period? Assume that the company operates 365 days per year. Enter your answer to the nearest dollar. Do not include any commas or dollar signs.

You are given the following information: STARTING Inventory A/R A/P Credit Sales COGS $10,576 $5,129 $7,991 $92,136 $60,777 ENDING $10,336 ? $7,395 If you are told that the cash cycle for this firm is 37.520 days, what is the value of the ending accounts receivable for the period? Assume that the company operates 365 days per year. Enter your answer to the nearest dollar. Do not include any commas or dollar signs.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

You are given the following information:
STARTING
Inventory $10,576
$5,129
$7,991
A/R
A/P
Credit Sales
COGS
$92,136
$60,777
ENDING
$10,336
?
$7,395
If you are told that the cash cycle for this firm is 37.520 days, what is the value of the ending accounts receivable for the period? Assume that the company operates
365 days per year. Enter your answer to the nearest dollar. Do not include any commas or dollar signs.

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Step 1: Introduction to Cash Cycle

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Step 2: Computation of DIO and DPO

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Step 3: Computation of ending AR

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