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Mashutka [201]
2 years ago
6

Corner Supply has a current accounts receivable balance of $246,000. Credit sales for the year just ended were $2,430,000. How m

any days on average did it take for credit customers to pay off their accounts during this past year
Business
1 answer:
Wewaii [24]2 years ago
4 0

Answer:

See below

Explanation:

Given the above information, the average debtor days is computed as seen below.

= Total receivables / Credit sales × 365

Total receivables = $246,000

Credit sales $2,430,000

Then,

Average debtor days

= $246,000 / $2,430,000 × 365

= 36.95 days

Hence, it would take 36.95 days on the average for credit customers to pay off their debts during this past year

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Journal EntryThe company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $
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