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kolezko [41]
3 years ago
12

At​ year-end, Sample has cash of $ 14,000​, current accounts receivable of $ 70,000​, merchandise inventory of $ 42,000​, and pr

epaid expenses totaling $ 5,300. Liabilities of $ 20 comma 000 must be paid next year. Assume accounts receivable had a beginning balance of $ 10 comma 000 and net credit sales for the current year totaled $ 560 comma 000. How many days did it take Sample to collect its average level of​ receivables?
Business
1 answer:
Delicious77 [7]3 years ago
7 0

Answer:

Days to collect receivables = 26 days

Explanation:

At the start Accounts Receivable = $10,000

Ending Accounts Receivable = $70,000

Credit Sales = $560,000

Average Accounts Receivable = ($10,000 + $70,000) / 2

Average Accounts Receivable = $40,000

Accounts Receivable Turnover = Credit Sales / Average Accounts Receivable

Accounts Receivable Turnover = $560,000 / $40,000

Accounts Receivable Turnover = 14

Days to collect receivables = 365 / Accounts Receivable Turnover

Days to collect receivables = 365 / 14

Days to collect receivables = 26 days

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Answer:

The amount of net pay recorded by Hernandez is $380,650

Explanation:

Gross Pay                      $500,000

Income Tax                      $63,000

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Medicare                      $7,250

Charitable contribution      $5,000

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Net Pay                              $380,650

Therefore, The amount of net pay recorded by Hernandez is $380,650

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Answer:

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Answer:

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Explanation:

and im good btw

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The statement about steering needed resources to execution-critical value chain activities which is false is that good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy.

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