During 2018, Paynton Inc. (Paynton) reported revenue of $1,592,000. Paynton's accounts receivable turnover ratio for 2018 was 4.92. What was Paynton's average amount of accounts receivable during 2018? What was Paynton's average collection period for accounts receivable during 2018?
Answer to relevant QuestionsDuring 2018, Kincolith Inc. (Kincolith) reported revenue of $125,125,000. During 2018, the average collection period for accounts receivable was 47 days. Accounts receivable at the end of 2017 was 12 percent greater than at ...Trustees of a local school board are given credit cards by the board for charging amounts pertaining to their responsibilities. Statements come to the board office and are reviewed by a staff person who approves them for ...You have obtained the following information about Rossburn Inc. (Rossburn) from its 2017 annual report:i. Rossburn's year-end is September 30.ii. Sales for the year ended September 30, 2017 were $750,000; 85 percent of sales ...Complete the table below by indicating whether the transactions or economic events would increase, decrease, or have no effect on the financial ratios in the period they occur. Assume the entity uses an accrual method for ...Find or determine the following amounts in CAE's financial statement information:a. Cash and equivalents on March 31, 2012.b. Net amount of accounts receivable on March 31, 2012.c. Gross amount of accounts receivable on ...
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