Use the information provided to determine the values for the missing information (indicated by shaded boxes): Current
Question:
Use the information provided to determine the values for the missing information (indicated by shaded boxes):
Current assets on December 31, 2017? $ _____
Current liabilities on December 31, 2017? $1,325,000
Current ratio on December 31, 2017? 1.15
Quick assets on December 31, 2017? $850,000
Quick ratio on December 31, 2017? _____
Accounts receivable on December 31, 2017? $ ______
Accounts receivable on December 31, 2016? $207,000
Revenues (all on credit) during 2017? $2,750,000
Accounts receivable turnover ratio for 2017? _______
Average collection period of accounts receivable for 2017? 32 days
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Items to be solved are shown in grey Current assets on December 31 2017 1523750 Current ratio on De...View the full answer
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