Oral Roberts Dental Supplies has annual sales of $6,615,000. Eighty percent are on credit. The firm...
Oral Roberts Dental Supplies has annual sales of $6,615,000.
Eighty percent are on credit. The firm has $882,000 in accounts
receivable.
Compute the value of the average collection period. (Do not
round intermediate calculations. Use a 360-day year.)
Average collection period= _______days
Homework Answers
| Credit sales = Annual sales * 80% = 6615000 * 80% | 5292000 | |
| Average collection period = ( Accounts receivables / Credit sales ) * Days in a year = ( 882000 / 5292000 ) * 360 | 60 | Days |
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