Answer:
See explanation section
Explanation:
See the images to get the answer
Answer:
The firm's receivable turnover is 20 times
Explanation:
The computation is shown below:
Accounts receivable turnover ratio = (Credit sales ÷ average accounts) receivable
where,
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($0 + $50,000) ÷ 2
= $25,000
And, the net credit sale is $500,000
Now put these values to the above formula
So, the answer would be equal to
= ($500,000 ÷ $25,000)
= 20 times
And, the average collection period in days = Total number of days in a year ÷ accounts receivable turnover ratio
= 360 days ÷ 20
= 18 days
A mid-career Immigration Attorney / Lawyer with 5-9 years of experience earns an average total compensation of $81,780 based on 105 salaries. An experienced Immigration Attorney / Lawyer with 10-19 years of experience earns an average total compensation of $93,229 based on 78 salaries.
