Question: Adair Corp. is concerned because the average time to collect its accounts receivable was 15 days longer than its normal credit terms of net 30.
Adair Corp. is concerned because the average time to collect its accounts receivable was 15 days longer than its normal credit terms of net 30. Adair reported the following in the Current Assets section of its comparative balance sheets:
......................................................12/31/12...........12/31/11
Current Assets:
Accounts receivable.....................$115,000.........$85,000
Assuming 360 days in a year, determine Adair's net credit sales for 2012.
Step by Step Solution
3.48 Rating (164 Votes )
There are 3 Steps involved in it
The average time to collect accounts receivable is 30 ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
1114-B-A-G-F-A(11111).docx
120 KBs Word File
