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Gnesinka [82]
3 years ago
15

A company reports the following information for the year: Net credit sales $ 120,000 Average accounts receivable 20,000 Cash col

lections on credit sales 100,000 What is the company's receivables turnover ratio?
Business
1 answer:
Alborosie3 years ago
7 0

Answer:

receivable turnover ration = 6

Explanation:

credit sales = 120000

Credit sales =As we know that: Receivables turnover ration = Net credit sales /Average account receivable.

                                 =    120000/ 20000

                                 = 6.

it indicates that company convert its receivable to cash 6 times that year.

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Journal entries

A.

Dr Cash $6,871.50

DrCash Exceed and Short $50.75

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B.

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8 0
3 years ago
Does unemployment affect demand?<br>​
Ivahew [28]

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6 0
3 years ago
Inflation is 14 percent. Debt is $4 trillion. The nominal deficit is $360 billion. What is the real deficit or surplus
DiKsa [7]

Answer:

Real Surplus is $200 billion

Explanation:

Inflation = 14%

Debt = $4 trillion = $4,000 billion

Nominal deficit = $360 billion

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= $360 - 14% * 4,000

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8 0
2 years ago
What is some ways to help people ?
EleoNora [17]
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8 0
3 years ago
Candy Claws Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per
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Answer:

c. $23,160

Explanation:

Adjusted cash balance per books as at August 31

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Less:(Deposits in transit $900

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NSF check (1,020)

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6 0
3 years ago
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