Freedom Corporation reported the following financial statements: (Click the icon to view the financial statements.) Assume...

    

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Freedom Corporation reported the following financial statements: (Click the icon to view the financial statements.) Assume all sales are on credit. During 2019, Freedom's days' sales in receivables ratio was (amounts rounded) (Use a 365-day year. Round interim calculations to three decimal places and round your final answer to the nearest whe OA. 25 days OB. 24 days OC. 23 days. OD. 27 days Click to select your answer Earned Mastery L Eamed Mastery Le Financial Statements Current Assets: Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Other Assets Total Assets Freedom Corporation Comparative Balance Sheet December 31, 2019 and 2018 Assets Current Liabilities Liabilities Print Done hp S $ 2019 2,290 S 1,994 1,348 1,587 7,219 17,080 24.299 $ 7.480 S 4840 2018 1,866 1.830 1,122 2,138 6,956 15.945 22,901 8.641 2.791 - Eameg Mastery Level Earned Mastery Level X Total Assets Current Liabilities Long-term Liabilities Total Liabilities Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Freedom Corporation Income Statement Net Sales Revenue Cost of Goods Sold Print $ Year Ended December 31, 2019 Done $ $ 24,299 $ 7,480 S 4,840 12,320 $479 500 11,979 24,299 $ S 28,680 6,175 22,901 8,541 2,791 11,332 5,169 6,400 11,569 22,901 wiew Bamed Mastery Level Earned Isastery evel Financial Statements Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Freedom Corporation Income Statement Year Ended December 31, 2019 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Interest Expense Income Before Income Taxes Income Tax Expense Net Income Print Done $ hp 0,300 $ 28,680 6,175 11,979 11,569 24,299 $ 22,901 22,505 7,251 15,254 156 - X 15.098 2,217 $ 12,881 0,400 Earned Mastery Level Earned Mastery Level Freedom Corporation reported the following financial statements: (Click the icon to view the financial statements.) Assume all sales are on credit. During 2019, Freedom's days' sales in receivables ratio was (amounts rounded) (Use a 365-day year. Round interim calculations to three decimal places and round your final answer to the nearest whe OA. 25 days OB. 24 days OC. 23 days. OD. 27 days Click to select your answer Earned Mastery L Eamed Mastery Le Financial Statements Current Assets: Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Other Assets Total Assets Freedom Corporation Comparative Balance Sheet December 31, 2019 and 2018 Assets Current Liabilities Liabilities Print Done hp S $ 2019 2,290 S 1,994 1,348 1,587 7,219 17,080 24.299 $ 7.480 S 4840 2018 1,866 1.830 1,122 2,138 6,956 15.945 22,901 8.641 2.791 - Eameg Mastery Level Earned Mastery Level X Total Assets Current Liabilities Long-term Liabilities Total Liabilities Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Freedom Corporation Income Statement Net Sales Revenue Cost of Goods Sold Print $ Year Ended December 31, 2019 Done $ $ 24,299 $ 7,480 S 4,840 12,320 $479 500 11,979 24,299 $ S 28,680 6,175 22,901 8,541 2,791 11,332 5,169 6,400 11,569 22,901 wiew Bamed Mastery Level Earned Isastery evel Financial Statements Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Freedom Corporation Income Statement Year Ended December 31, 2019 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Interest Expense Income Before Income Taxes Income Tax Expense Net Income Print Done $ hp 0,300 $ 28,680 6,175 11,979 11,569 24,299 $ 22,901 22,505 7,251 15,254 156 - X 15.098 2,217 $ 12,881 0,400 Earned Mastery Level Earned Mastery Level

Answer rating: 100% (QA)

Accounts Receivable Turnover Net Credit Sales A... View the full answer