Mervyn's Fine Fashions has an average collection period of 50 days. The accounts receivable balance is...
Mervyn's Fine Fashions has an average collection period of 50 days. The accounts receivable balance is $95,000. What is the value of its credit sales?
Homework Answers
Average collection period = Account Receivable / (Sales/360)
So,
Credit Sales = Account Receivable / Average collection period
Credit Sales =360*95000/50
Credit Sales = $684,000
Add Answer to:
Mervyn's Fine Fashions has an average collection period of 50
days. The accounts receivable balance is...
Mervyn's Fine Fashions has an average collection period of 30 days. The accounts receivable balance is...
Mervyn's Fine Fashions has an average collection period of 30 days. The accounts receivable balance is $78,000. What is the value of its annual credit sales? (Use a 360-day year.)
Compute Wainwright Company's (a) accounts receivable turnover and (b) average collection period in days.
In 2014, Wainwright Company has net credit sales of $1,300,000 for the year. It had a beginning accounts receivable (net) balance of $101,000 and an ending accounts receivable (net) balance of $107,000. Compute Wainwright Company's (a) accounts receivable turnover and (b) average collection period in days.
16. ABC Co. has an average collection period of 50 days. Total credit sales for the...
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Calculate the accounts receivable turnover
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e.g. 15.1.)
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Forrester Fashions has annual credit sales of 250,000 units with an average collection period of 70...
Forrester Fashions has annual credit sales of 250,000 units with an average collection period of 70 days. The company has a per-unit variable cost of $20 and a per-unit sale price of $30.00. Bad debts currently are 5% of sales. The firm estimates that a proposed relaxation of credit standards would not affect its 70-day average collection period but would increase bad debts to 7.50% of sales. which would increase to 300,000 units per year. Forrester requires a 12% return...
Value options Inventory conversion period: 56.77 days 43.26 days 45.96 days 131.70 days Average collection period:...
Value options
Inventory conversion period:
56.77 days
43.26 days
45.96 days
131.70 days
Average collection period:
34.20 days
23.32 days
86.55 days
29.54 days
Payables deferral period:
62.57 days
49.53 days
54.75 days
127.00 days
Cash conversion cycle:
31.37 days
91.25 days
29.72 days
28.07 days
Then the multiple choices
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Mervyn's Fine Fashions has an average collection period of 30 days. The accounts receivable balance is $78,000. What is the value of its annual credit sales? (Use a 360-day year.)
Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Question 14 0.67/1 View Policies Show Attempt History Current Attempt in Progress During its first year of operations, Sandhill Company had credit sales of $3,900,000, of which $410,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct....
QUESTION 15 The average collection period is 24 days. If the firm has accounts receivable totaling $219,000, calculate the annual credit sales. $9.644 million $3.331 million $4.261 million $5.138 million none of these
Forrester Fashions has annual credit sales of 250,000 units with an average collection period of 70 days. The company has a per-unit variable cost of $20 and a per-unit sale price of $30.00. Bad debts currently are 5% of sales. The firm estimates that a proposed relaxation of credit standards would not affect its 70-day average collection period but would increase bad debts to 7.50% of sales. which would increase to 300,000 units per year. Forrester requires a 12% return...
Value options
Inventory conversion period:
56.77 days
43.26 days
45.96 days
131.70 days
Average collection period:
34.20 days
23.32 days
86.55 days
29.54 days
Payables deferral period:
62.57 days
49.53 days
54.75 days
127.00 days
Cash conversion cycle:
31.37 days
91.25 days
29.72 days
28.07 days
Then the multiple choices
1. Cash conversion cydle AaAa Consider the case of Green Melon Electronics Company: Green Melon Electronics Company is a mature firm that has a stable flow of business. The following...
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