A company has the following information: Beginning accounts receivable: $20,000 Ending accounts receivable: $25,000 Sales revenue: $120,000
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Question:
A company has the following information:
- Beginning accounts receivable: $20,000
- Ending accounts receivable: $25,000
- Sales revenue: $120,000
- Cash received from customers: $95,000
- Bad debts expense: $2,000
- Allowance for doubtful accounts: $3,000
Calculate the following:
- Net sales
- Accounts receivable turnover
- Average collection period
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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