Which of the companies reduced the average time it took to collect on accounts receivable from 2016
Question:
Which of the companies reduced the average time it took to collect on accounts receivable from 2016 to 2017?
a. Company A.
b. Company B.
c. Company C.
d. Company D.
Mary Gonzales is evaluating companies in the office supply industry and has compiled the following information:
Accounts ReceivableAccounts 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...
Transcribed Image Text:
2016 2017 Average Receivables Balance $1.2 million $1.5 million Average Receivables Credit Credit Company Sales $ 5.0 million $ 3.0 million $ 2.5 million $ 0.5 million $25.0 million Balance $1.0 million $1.2 million $0.8 million $0.1 million Sales $ 6.0 million $ 4.0 million $ 3.0 million $ 0.6 million $28.0 million $1.0 million D $0.2 million $5.0 million $5.4 million Industry
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b is correct Company B increased its accounts receivable AR turno...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1119371403
4th edition
Authors: Robert Parrino, David S. Kidwell, Thomas Bates
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