1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Jorge and Fred have a product they would like to sell. They decide to share the risks and profits by forming an unincorporated b
sukhopar [10]
<span>The business organization Jorge and Fred have most likely formed is an Partnership. Because they share all profits and risks caused by an organisation. There is a major advantage in partnership where we can take decisions and plans together and strive towards the excellence of the organization. Even-though there is a debt problem we can share and solve the debts.Mutual Understanding is the main point in Partnership.</span>
3 0
3 years ago
Read 2 more answers
Dash Plumbing is an established company with 12 employees and a small office in the suburbs of Atlanta. The company had an old c
olganol [36]

Answer:

The people at dash plumbing are in the market for a new copier

Explanation:

Since in the question it is mentioned that Dash publishing is an established company that has 12 employees and has a small office in Atlanta. Also the old copier breaks down and the resources to purchase

So the given situation represent that the dash plumbing people come in the market for a new copier and the same is to be considered

7 0
3 years ago
Crane purchases equipment by signing a note payable with the equipment dealer for $10,000. The accounts affected for Crane are _
maxonik [38]

Answer:

Equipment and notes payable

Explanation:

Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered

The journal entry would be

Equipment A/c Dr $10,000

        To Notes payable $10,000

(Being the equipment is purchased  by signing a note payable)

7 0
3 years ago
Williams Alternative Power, Inc., a company developing solar panels, has done considerable research and limited production durin
Juli2301 [7.4K]

Answer:

greatly increased.

Explanation:

IPO refers to Initial Public Offering which is what new companies begin to do by offering initial shares of the company in order to raise money. This being said we can say that at this stage of its life cycle, its ability to attract venture capital is greatly increased. This is because Venture Capital are private equity from a large number of firms looking to invest in new companies with very high growth potential for the future.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
Read 2 more answers
Main memory divided into a number of static partitions at system generation time is _______ .
crimeas [40]

The main memory divided into a number of static partitions at system generation time is fixed partitioning.

<h3>What is the main memory?</h3>

Memory is a computing term for a system or device that stores data for immediate use in a computer, computer hardware, or other digital electronic devices. The terms main memory and primary storage are frequently used interchangeably. The store is a dated word for memory.

The principal internal storage area in a computer, sometimes known as RAM, is the main memory (random access memory). Specs like 4GB, 8GB, 12GB, and 16GB usually invariably relate to the RAM's storage capacity. On the other hand, a computer's disk or solid-state storage capabilities are commonly 128GB or 256GB or greater.

Fixed partitioning refers to the division of the system's main memory into a number of static partitions.

To learn more about main memory refer to:

brainly.com/question/24688176

#SPJ4

4 0
2 years ago
Other questions:
  • Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion
    8·1 answer
  • The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date July 1, Year 1 Purchas
    13·1 answer
  • An article in the Wall Street Journal refers to​ "debt-strapped emerging markets already struggling with​ current-account defici
    8·1 answer
  • Stacy is in her first year of high school. She wants to be starting on the varsity basketball team by her third year in high sch
    13·2 answers
  • On 1/1//2015, XYZ leases a machine from Super LeaseCo for four years. At the end of the lease term, title passes to XYZ. Payment
    7·1 answer
  • On July 15, 2021, M.W. Morgan Distribution sold land for $41.0 million that it had purchased in 2016 for $26.0 million.
    5·1 answer
  • 6. Which of the following has the lowest liquidity?
    13·2 answers
  • Ability to do speedy and accurate arithmetic
    7·1 answer
  • Darden has beginning equity of $284,000, total revenues of $70,000, and total expenses of $32,000. the company has no other tran
    5·2 answers
  • Which type of marketing channel includes a retailer or other intermediaries in the delivery of goods and services to consumers?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!