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
scZoUnD [109]
3 years ago
8

Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning of the year and a balance of

$840,000 at the end of the year. Net credit sales during the year amounted to $7,200,000. The average collection period of the accounts receivable in terms of days was
A) 30 days.

B) 365 days.

C) 45.1 days.

D) 42.9 days.
Business
1 answer:
natulia [17]3 years ago
5 0

Answer:

The correct answer is 40.6 days. None of the options is correct.

Explanation:

The average collection period of the accounts receivable is how long it takes the company to collect its accounts receivable. It is expressed as: (Average accounts receivable / Net credit sales) x 365 days.

Average collection period = [($760,000 + $840,000)/2 / $7,200,000] x 365 days =  40.6 days

This means it takes the company 40.6 days to collect its accounts receivable.

You might be interested in
What is a computer network?
Leona [35]

Answer:

A.)

Explanation:

two or more connected computers

6 0
2 years ago
Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone
seraphim [82]

Answer:

1. Must Gidgits Galore provide its employees with benefits? No

2. Does Gidgits Galore have to implement a payroll tax for unemployment, workers' compensation, or Social Security? Yes

3. Gidgits Galore is concerned about hiring employees from other countries whose language skills may not be proficient and is considering hiring only native English speakers. Is this a good idea? No

4. Does the Commerce Clause have an effect on Gidgits Galore? Yes

5. Can Gidgits Galore face any repercussions if it disregards Title VII? Yes

6. Gidgits Galore is concerned about hiring employees from other countries whose language skills may not be proficient and is considering hiring only native English speakers. Would this represent "disparate treatment"? Yes

7. Gidgits Galore wants a "young and hip" workforce. Is there a problem if it chooses not to hire anyone over the age of forty? Yes

8. Gidgits Galore wants to put a section in its updated employment manual preventing employees from taking more than thirty days from work without pay, regardless of the reason. Is this a good idea? No

9. What if Gidgits Galore wants to add a provision to its employee manual preventing employees from forming a union? Can this be done? No

Explanation:

Edge 2021

4 0
3 years ago
A key limitation of balance sheets in financial analysis is that: A) liquidity and solvency ratios require information from othe
tatyana61 [14]

Answer: Option (B) is correct.

Explanation:

The three limitations to balance sheets are as follow:  

1.) Assets are being noted or stored at a historical cost,  

2.) There is a thorough use of the estimates,

3.) There's also omission of several precious non-monetary assets.  

Therefore from the given options, we can state that the key limitation of using a balance sheets under the constraints of financial analysis is that different items in a balance sheet are or may be evaluated differently.

8 0
3 years ago
Sean, age 37, sold the home he purchased three years ago and now rents an apartment. he had originally purchased his home for $8
ZanzabumX [31]
28,800     is the answer
                                                                                                                                       
6 0
3 years ago
Aggregate demand is everything produced while simple demand is one good. which statement reflects simple demand?
liq [111]
B because it’s most average
8 0
3 years ago
Other questions:
  • Shanken corp. issued a 30-year, 5.9 percent semiannual bond 6 years ago. the bond currently sells for 108 percent of its face va
    8·1 answer
  • Micah is an exchange student from the U.S. living in Japan. He wants to buy a new-release movie for 2,000 Japanese yen. When he
    11·2 answers
  • g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th
    11·1 answer
  • Which was not a response taken during the hoover administration in an attempt to turn the economy around?
    10·1 answer
  • Compared to attending a technical school, completing a four year college degree allows you to
    14·2 answers
  • Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $1
    8·1 answer
  • Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. There are no offers on
    14·1 answer
  • Bonita Corporation has outstanding 9,100 shares of $100 par value, 6% preferred stock and 60,500 shares of $10 par value common
    15·1 answer
  • How often should you update you check register
    10·2 answers
  • Factors of production are? scarce in every society. scarce only in advanced countries. scarce only in the poorest countries of t
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!