Ask Experts Questions for FREE Help !
Ask
    lala1973's Avatar
    lala1973 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 23, 2004, 09:52 PM
    Accounts Receivable Turnovers, Number of days' sales
    Based on the following data and using a 365-day year, compute the accounts receivable turn over and number of days' sales in receivables. The industry average is a collection period of once every 20 days, and the number of days' sales in receivables averages 19. Comment on this situation.

    12/31/99 Accounts Receivable, Net $90,000
    12/31/00 Accounts Receivable, Net $70,000
    For the year ended 12/31/99, net credit sales $1,250,000
    For the year ended 12/31/00, net credit sales
    $1,600,000
    CliffARobinson's Avatar
    CliffARobinson Posts: 1,416, Reputation: 101
    Ultra Member
    		  
    #2

    Mar 11, 2012, 05:43 PM
    We do not do homework or study questions, however, we do point students in the right direction, and help when and if they run into road blocks. I have found a great primer on calculating Days' Sales. This site, Accounting Coach, also has a template to use in order to more easily calculate.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search


Check out some similar questions!

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,0 [ 1 Answers ]

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,000 in Cash and $7,500 in Supplies, what is the net income for this company? Explain answer.

Analyze effects of accounts receivable transaction: percentage of sales method. [ 1 Answers ]

At the beginning of 2008 Darcy's Floor Coverings had the following account balances: Accounts Receivable $325,000 and Allowance for rUncollectible Accounts @7,500 (credit). During the year credit sales were @825,000 sales returns and allowances were $31,750 and $10,000 of specific customer...

Accounts receivable from sales [ 1 Answers ]

Accounts receivable arising from sales to customers amounted to $35k and $40k at the beginning and endof the year, respectively. Income reported on the income statement for the year was $120k Exclusive of the effect of tother adjustments, the cash flows from operating activities to be reported on...

Relationship of sales returns and accounts receivable. [ 1 Answers ]

The following question is on a take-home quiz. I am perplexed! Could someone help and explain why one of the following answers is correct? A debit to Sales Returns and Allowances and a credit to Accounts Receivable: 1 Reflects an increase in amount due from a customer. 2...

View more questions Search