Question: I need help with this general accounting question using standard accounting techniques. cad The Accounting statements of Horizon Electronics Corporation report net sales of $2,555,000

I need help with this general accounting question using standard accounting techniques.

I need help with this general accounting question
cad The Accounting statements of Horizon Electronics Corporation report net sales of $2,555,000 and accounts receivable of $158,000 and $142,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days? A. 31.50 Be1925 2b D. 20.00

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!

Q:

True/False Indicate whether the statement is true or false. ____ 1. In accounting, to value means to record a transaction or event. ____ 2. The recognition issue deals with when a business...

Q:

HiPaper will be: IV. leases ( 1-2 pages) VI. Statement of Changes in Financial Position ( 1-2 pages) VII: Report for CEO (only this part). (3-5 pages) The company we are using is Target's K-10...

Q:

I need help with this systems understanding aid in my accounting information systems class. I just need the journals and ledgers. I have attached the transaction list and all the documents to...

Q:

I need help with this systems understanding aid in my accounting information systems class. I just need the journals and ledgers. I have attached the transaction list and all the documents to...

Q:

HiPaper will be: IV. leases ( 1-2 pages) VI. Statement of Changes in Financial Position ( 1-2 pages) VII: Report for CEO (only this part). (3-5 pages) The company we are using is Target's K-10...

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

Q:

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

Q:

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

Q:

If life events drive the perceived need for benefits, consider a list of possible benefits that might be especially attractive to female workers, young workers, Hispanic, Asian, male workers, African...

Q:

You're the CFO of Fishing fun Inc. The company has expected EBIT of $ 50 million every year forever. The company currently has an all equity capital structure with 694,177 shares outstanding....

Q:

14. Media host Howard Stern claims that leaders of the religious right are nothing but a pack of racketeers bent on destroying every vestige of free speech, and he gives numerous reasons to support...

Q:

What is SQL DROP TABLE Statement??