<span>Which best describes the role of financial planning? Allow someone to have fewer economic obstacles. A financial plan is important to have because it allows someone to be best set up for the future. A financial plan allows you to predict your future cash flows, asset values and save for unfortunate events. Those who actively participate in financial planning tend to overcome the fewer economic obstacles thrown their way. </span>
Based on the sales revenue and the net accounts receivable, the receivables turnover ratio is 12 times .
<h3>What is the receivables turnover ratio?</h3>
This can be found as:
= Net sales revenue / Average accounts receivable
Solving give:
= 720,000 / (62,000 + 58,000) / 2
= 720,000 / 60,000
= 12 times
Find out more on receivables turnover ratio at brainly.com/question/27523896.
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Answer:
A = $4000
Explanation:
given data:
total investment $12000
interest on CD= 4%
Interest on bond =7%
the portion invested in the CD is A
total portion invested as a bond = $12,000 - A
total portion earned on the CD = 0.04A.
The total interest gain on the bond = 0.07(12000 - A).
equation for the total interest earned is:
0.04A + 0.07(12000 - A) = 720
0.04A + 840 - 0.07A = 720
-0.03A = -120
A = $4000
Debit Credit
Feb 1
Services 500
Accounts Payable 500
Feb 25
Accounts Payable 300
Cash 300
March 5
Accounts Payable 200
Cash 200
The entries made in March 5th zeroed out the Accounts Payable on the Services bought on account last February 1st.
