Answer:
61 days
Explanation:
Accounts receivable turn over ratio is an efficiency ratio that is used to calculate how efficiently a company is receiving its sales on account payments . This measures the number of times in a period that a company collects its average accounts receivable.
When expressed in days , it reveals the number of days it takes a sales on account customer to make payment
<u>Workings</u>
Annual sales = 1200
Average receivable balance = 200
Receivable turnover ratio = Annual sales /average receivable balance
1200/ 200 = 6
Account receivable turnover ratio in days = 365/receivable turnover ration
365/6 = 60.8 days = approximately 61 days
This shows that it takes a customer approximately 61 days to pay their purchase on account which
Answer:
A. $ 2,152
Explanation:
The total selling price of 100 shares at $22.62 is
100 *22,62 = $ 2,262
Less:Brokerage firm fees <u>$ 110</u>
Money received from sale of 100
shares of TMX $ 2,152
The producer is the person who makes the product therefore the answer would be A.
