Horizontally analyze the financial data in Exercise 17-9. (b) Calculate how many days it took Sigmon Inc. to collect its recieivables (i.e. Sigmon's average collection period) in 20Y3. Show your work.
Receivable turnover ratio =Sales revenue/Average account receivable
Average account receivable=(725000+650000)/2=$687500
Receivable turnover ratio=5637500/687500=8.2 time
Average collection Period =365/Receivable turnover ratio=365/8.2=44.51 Days
Horizontally analyze the financial data in Exercise 17-9. (b) Calculate how many days it took Sigmon...
question:(a) Horizontally analyze the financial data in Exercise
17-9. (b) Calculate how many days it took Sigmon Inc. to collect
its recieivables (i.e. Sigmon's average collection period) in 20Y3.
Show and briefly explain your work.
EX 17-9 The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. Accounts receivable analysis OBJ. 3 ceivable .2 20Y3 20Y2 20Y1 Accounts receivable, end of year Sales on account 725,000650,000 4687,500 $600,000 5,637,500
Accounts Receivable Analysis
The following data are taken from the financial statements of
Sigmon Inc. Terms of all sales are 2/10, n/45.
Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year Sales on account a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal...
Accounts receivable analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $720,000 $650,000 $585,000 Sales on account 5,627,000 4,531,000 For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume a 365-day year. Do not round intermediate calculations. Round your answers to one decimal place. 20Y3 20Y2 1. Accounts receivable turnover 2....
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Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45 20Y3 20Y2 20Y1 Accounts receivable, end of year Sales on account a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year $135,400 $142,000 $150,000 873,810832,200 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables...
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