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Answer:
$230,000
Explanation:
Given that,
Days sales outstanding, DSO = 23 days
Annual sales = $3,650,000
Assume that it uses a 365 day year
Accounts receivable = (Annual sales × Days sales outstanding) ÷ 365 days
= ($3,650,000 × 23) ÷ 365 days
= $83,950,000 ÷ 365 days
= $230,000
Therefore, the Baxley Brothers has $230,000 balance in its accounts receivable.
Answer:
Explanation:
Determination of cost of timber
Cost of timber per acre
(1,352 - 312) = 1040
Cost per board feet of timber
<u>1040 </u>
8320
Cost of timber sold related to depletion in 2020
884,000 board feet × <u>1040 </u>
8320
= $110,500