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scrumrine2
Nov 3, 2008, 07:40 PM
Maddox Resources has credit sales of $180,000 yearly with credit terms of net 30 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its customers take the full 30 days to pay.

What is the average receivables balance? Receivables turnover?
cuondweb
Oct 26, 2009, 06:23 PM
Maddox Resources has credit sales of $180,000 yearly with credit terms of net 30 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its customers take the full 30 days to pay.

What is the average receivables balance? Receivables turnover?
morgaine300
Oct 26, 2009, 11:05 PM
Please see the guidelines for posting homework problems:
http://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html