A company has the following information: Beginning accounts receivable: $20,000 Ending accounts receivable: $25,000 Sales revenue: $120,000
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Question:
A company has the following information:
- Beginning accounts receivable: $20,000
- Ending accounts receivable: $25,000
- Sales revenue: $120,000
- Cash received from customers: $95,000
- Bad debts expense: $2,000
- Allowance for doubtful accounts: $3,000
Calculate the following:
- Net sales
- Accounts receivable turnover
- Average collection period
Expert Answer:
The detailed answer for the above question is provided below Net sales can be calculated by deductin... View the full answer
Related Book For 
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
