Question: A/R Report Month Charges Adjustments Collections A/R Balance Change to A/R Jan 372,026.23 142,546.20 229,526.53 558,039.35 -46.50 Feb 488,189.83 239,187.32 249,523.26 557,518.60 -520.75 Mar 486,557.14

A/R Report Month Charges Adjustments Collections A/R Balance Change to A/R Jan 372,026.23 142,546.20 229,526.53 558,039.35 -46.50 Feb 488,189.83 239,187.32 249,523.26 557,518.60 -520.75 Mar 486,557.14 188,306.23 305,550.55 550,218.96 -7,299.64 Apr 372,933.37 135,408.77 238,277.48 549,466.08 -752.88 May 407,866.75 144,358.11 266,721.06 546,253.66 -3,212.42 Jun 418,267.28 159,506.74 265,156.90 539,857.30 -6,396.36 Jul 349,662.24 129,276.26 226,881.26 533,362.02 -6,495.28 Aug 381,510.05 131,911.88 251,596.21 531,363.98 -1,998.04 Sep 412,980.16 145,539.78 269,157.84 529,646.52 -1,717.46 Oct 343,056.21 128,171.62 216,489.59 528,041.52 -1,605.00 Nov 443,048.52 183,177.84 261,562.50 526,349.70 -1,691.82 Dec 395,482.44 138,005.34 258,782.62 525,044.18 -1,305.52 Based on the information in the chart, what is the net collection ratio for the month of October? a. 63% b. 101% c. 37% d. 59%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

I need help with my project.It is a big one..if you have time and knowledge in accounting, please take my project case. It is very, very important for me because this is worth 20% of my grade. If you...

I need help with the solutions for this practice set for accounting. CASE STUDY INSTRUCTIONS - Required: PART 1 - Journalize Monthly Transactions 1) Record the transactions for the month in the...

I only need the journal done, thank you! AutoSave OM Midterm Excel Template A - Protected View Search ARO File Home Insert Page Layout Formulas Data Review View Developer Help PROTECTED VIEW Be...

U.S. TUTORS ONLY... NO EXCEPTIONS Need a 2 page paper for my "Health Service Finance" course for my MBA program. There's a scenario given, your role and you have to present your comments in a 2 page...

Accounts Receivable Crisis Scenario Summary It is the second Monday night in October and it is now 3 a.m. You cannot sleep. You are the CFO of Marysville General Hospital, a 300-bed community...

Two adjusting entries are in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of accounts: 141,...

Stock Positions. The following price data is available for QVL stock. Date middle of May 2010 end of May 2010 middle of June 2010 end of June 2010 middle of July 2010 end of July 2010 Price of QVL...

What is the BID cross - exchange rate for Swiss Francs priced in euro? a . 0 . 5 4 6 6 / CHF b . 0 . 5 3 8 6 / CHF c . 0 . 5 3 8 9 / CHF d . 0 . 5 4 6 3 / CHF

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

36. LO.1, 7 Assume in Problem 34 that Julio takes a capital loss carryover of $50,000 into the current tax year. Julio records no other capital gain transactions during the year. What amount of the...

32. LO.6 Jacob Corcoran bought 10,000 shares of Grebe Corporation stock two years ago for $24,000. Last year, Jacob received a nontaxable stock dividend of 2,000 shares in Grebe. In the current tax...

33. LO.7 Joseph and Erica, husband and wife, jointly own all of the stock in Velvet Corporation. The two are currently involved in divorce proceedings, and pursuant to those negotiations, they have...