Question: Oral Roberts Dental Supplies has annual sales of $5,200,000. Ninety percent are on credit. The firm has $559,000 in accounts receivable. Compute the value of

Oral Roberts Dental Supplies has annual sales of $5,200,000. Ninety percent are on credit. The firm has $559,000 in accounts receivable. Compute the value of the average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole number.)

Average collection period days

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:

The amount a company donates to a charitable organization is often restricted by financial inflexibility at the firm. One measure of financial inflexibility is the ratio of restricted assets to total...

Q:

Match each definition on the left with a mathematical expression or term on the right. Name given to the variable that specifies the treatments in an experiment (a) t = -4.6 (b) t = 1.3 (c) ยต 1...

Q:

How does the researcher deal with the heterogeneity of the population? Are reified stereotypes avoided and adequate opportunities provided to differentiate effects within race/gender/disability group...

Q:

Palomar Paper Products purchased land in 1996 for $15,000 cash. The company has held the land since that time. In 2014 Palomar purchased another tract of land for $15,000 cash. Assume that prices in...

Q:

Exercise 8 - 4 1 & 8 - 4 2 ( Static ) ( LO 8 - 2 , 3 ) Skip to question [ The following information applies to the questions displayed below. ] Annin Laboratories uses the weighted - average method...

Q:

On November 1, 2010, Logan Corp. adopted a stock option plan allowing some of their executives to purchase a total of 30,000 common shares. The options were granted on January 1, 2011. The options...

Q:

Implicit in the stop-and-wait scenarios of Figure 2.14 is the notion that the receiver will retransmit its ACK immediately on receipt of the duplicate data frame. Suppose instead that the receiver...

Q:

The following information pertains to Bay Cabinet Company's sales on account and accounts receivable: After several collection attempts, Bay Cabinet Company wrote off \(\$ 2,800\) of accounts that...

Q:

On October 1, Alice Rodstein started a consulting firm. The asset, liability, and stockholders' equity account balances after each of her first six transactions are shown below. Describe each of...

Q:

Prepare a Corrected Trial Balance The following trial balance for Hill Company has errors that cause it to be out of balance. Prepare a corrected version of the trial balance for Hill Company....

Q:

The following data apply to Smoot Sports Inc. for April 2011: 1. Balance per the bank on April \(30, \$ 12,250\). 2. Deposits in transit not recorded by the bank, \(\$ 2,100\). 3. Bank error; check...

Q:

How does that affect your approach to complaint handling?

Q:

What approaches does your organization have in place to encourage and then learn from complaints?

Q:

Do you have any idea how effective you are at complaint handling compared to other businesses in your industry sector? If so, where do you stand?

Related Book

Financial Accounting An Introduction 7th Edition by Pauline Weetman