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bagirrra123 [75]
4 years ago
6

The financial statements of the Skysong, Inc. reports net sales of $372000 and accounts receivable of $60000 and $31200 at the b

eginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days?
a. 4.5 times
b. 8 times
c. 9 times
d. 10.3 times
Business
1 answer:
UkoKoshka [18]4 years ago
8 0

Answer:

It will be 8.15 times which is not in the given option

Explanation:

We have given that net sales = $372000

Account receivable at the beginning = $60000

And account receivable at the end = $31200

Average account receivable =\frac{60000+31200}{2}=$45600

We know that account receivable turnover is given by

Account receivable turnover = \frac{net\ sales}{average\ account\ receivable}=\frac{$372000}{$45600}=8.15times

Which is not in the given option

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Answer:

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These signs and symptoms associated with Anorexia Nervosa, are similar to the ones Shelly has. She had just undergone a major life change, which is serious weight loss. She believes that she is still fat, when in actuality she is thin. She is also unable to contain food.

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Purchase-Related Transactions The Wheatland Company purchased merchandise on account from a supplier for $16,800, terms 1/10, n/
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Answer:

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The discount term states that if payment is made within the next 10 days of purchase, a 1% discount can be availed (1/10).

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Answer:

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This takes place during times of decreased economic growth or times of economic slowdown.

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