Adair Corp. is concerned because the average time to collect its accounts receivable was 15 days longer

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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:

.....................................................12/31/17 ..................12/31/16

Current Assets:

Accounts receivable .................$115,000................... $85,000

Assuming 360 days in a year, determine Adair's net credit sales for 2017.

Accounts Receivable
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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