PWX Inc. has the following information for its years ended June 30: Required: Calculate the accounts receivable

Question:

PWX Inc. has the following information for its years ended June 30:

Required:Calculate the accounts receivable turnover and average collection period for 20X3 and 20X2. Comment on the trend. What additional information would an analyst require to properly understand this trend?

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Intermediate Accounting Volume 2

ISBN: 9781260881240

8th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

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Question Posted: Apr 14, 2023 03:35 AM

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PWX Inc. has the following information for its years ended June 30: Required: Calculate the accounts receivable

Question:

Gross sales Accounts receivable 20X3 $567,800 $ 62,500 20X2 $650,700 $ 67,500 20X1 $589,200 $ 53,200

Step by Step Answer:

The collection period has increased from 339 days to 418 day...View the full answer

Intermediate Accounting Volume 2

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