Corporate Finance: A Focused Approach (mindtap Course List)
7th Edition
ISBN: 9781337909747
Author: Michael C. Ehrhardt, Eugene F. Brigham
Publisher: South-Western College Pub
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Chapter 3, Problem 1P
Summary Introduction
To determine: The level of its accounts receivable.
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Greene Sisters has a DSO of 20 days. The company’s average daily salesare $20,000. What is the level of its accounts receivable? Assume there are365 days in a year.
Greene Sisters has a DSO of 20 days. The company's average daily sales are $30,000. What is the level of its accounts receivable? Assume there are 365 days in a year. Round your answer to the nearest dollar.
Medwig Corporation has a DSO of 17 days. The company averages $8,500 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar.
Chapter 3 Solutions
Corporate Finance: A Focused Approach (mindtap Course List)
Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - Over the past year, M. D. Ryngaert Co. has...Ch. 3 - Prob. 4QCh. 3 - Prob. 5QCh. 3 - Prob. 6QCh. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4P
Ch. 3 - Prob. 5PCh. 3 - Prob. 6PCh. 3 - Ace Industries has current assets equal to 3...Ch. 3 - Prob. 8PCh. 3 - Prob. 9PCh. 3 - Prob. 10PCh. 3 - Complete the balance sheet and sales information...Ch. 3 - The Kretovich Company had a quick ratio of 1.4, a...Ch. 3 - Prob. 13PCh. 3 - Prob. 14PCh. 3 - Prob. 1MCCh. 3 - Prob. 2MCCh. 3 - Prob. 3MCCh. 3 - Prob. 4MCCh. 3 - Prob. 5MCCh. 3 - Prob. 6MCCh. 3 - Prob. 7MCCh. 3 - Prob. 8MCCh. 3 - Prob. 9MCCh. 3 - Prob. 10MC
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- Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?arrow_forwardNegus Enterprises has an inventory conversion period of 50 days, an average collection period of 35 days, and a payables deferral period of 25 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm’s cash conversion cycle? If annual sales are $4,380,000 and all sales are on credit, what is the firm’s investment in accounts receivable? How many times per year does Negus Enterprises turn over its inventory?arrow_forwardBaxley Brothers has a DSO of 46 days, and its annual sales are $5,840,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest cent.arrow_forward
- Medwig Corporation has a DSO of 24 days. The company averages $7, 750 in sales each day ( all customers take credit). What is the company's average accounts receivable? Assume a 365 day year. Round your answer to the nearest dollar. $arrow_forwardMedwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all customers take credit). What are the company’s average accounts receivable?arrow_forwardMRK corporation has a DSO of 35 days. The company's annual credit sales are $10 million. What is the level of its accounts receivable? Assume there are 365 days in a year.? Group of answer choices $350 million $958, 904 $400 million $1,369, 863arrow_forward
- Please Solve This Question 1. Medwing Corporation has a DSO of 19 days. The company averages 5,500 in credit sales each day. What is the company’s average accounts receivable?arrow_forwardPlease Give the answer of this questionarrow_forwardOn average your firm sells $33,100 of items on credit each day. Your average inventory period is 35 days and your operating cycle is 55 days. What is your average accounts receivable balance?arrow_forward
- Mervyn's Fine Fashion has an average collection period of 30 days. The accounts receivable balance is $45,000. What is the value of credit sales? (Use 365 days in a year. Round the final answer to the nearest whole dollar.) Credit salesarrow_forwardA firm has sales of $1.6 million, and 25 percent of the sales are for cash. The year-end accounts receivable balance is $175,000.What is the average collection period?arrow_forwardA firm has sales of $1.4 million, and 10 percent of the sales are for cash. The year-end accounts receivable balance is $205,000. What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Average collection period days Prev 5 of 10 94 Next >arrow_forward
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