Question: Problem 4 - 9 Receivables ( LO 3 ) Chik's Chickens has accounts receivable of $ 5 , 3 3 3 . Sales for the

Problem 4-9 Receivables (LO3)
Chik's Chickens has accounts receivable of $5,333. Sales for the year were $8,800. What is its average collection period? Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answer to the nearest whole number.
Average collection period
days
Problem 4-9 Receivables (LO3) Chik's Chickens has accounts receivable of $5,333.

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 Finance Questions!

Q:

Accounts Receivable Homework Problem 11 Accounts Receivable Charleigh Co, purveyor of fine, fine things, had the following balances at December 31, 2019: 44.000 Cash 60,000 1,000 Allowance for...

Q:

Problem 7-10 a-e1 Blossom Company follows ASPE. It manufactures sweatshirts for sale to athletic-wear retailers. The following summary information was available for Blossom for the year ended...

Q:

please answer #2, #3 and #4 151 Problem 2' Sally sold $3,000,000 worth of stuff during the year (all on account). Her beginning balance in Accounts Receivable was $200,000 and her beginning credit...

Q:

problems 2,3 and 4 answer quedtion 2,3 and 4 do question 2 151 Problem 21 Sally sold $3,000,000 worth of stuff during the year (all on account). Her beginning balance in Accounts Receivable was...

Q:

151 Problem 21 beginning balance in Accounts Receivable was $200,000 and her beginning credit balance in Sally sold $3,000,000 worth of stuff during the year (all on account). Her receivables, and...

Q:

Problem 1 Pizza Corporation reported the following information on its balance sheet dated December 2019: Accounts ReceivableP4,403,000 Less:Allowance for Doubtful Accounts 291,000 P4,694,000 The...

Q:

i provided all those pictures in case if you need them to calculate the Current Ratio and Account Receivable Turnover During 2023, Sandhill had the following transactions: 1. Total sales were...

Q:

Consider the financial statements for Ace Inc. for questions 1 to 8: Ace Inc. Income Statements ($000s) Year 1 Year 2 Sales $250,000 $290,000 Cost of goods sold 165,000 173,000 Gross margin 85,000...

Q:

*Problem 7-10 Sandhill Co. follows ASPE. It manufactures sweatshirts for sale to athletic-wear retailers. The following summary information was available for Sandhill for the year ended December 31,...

Q:

inventory & COGS (add formulas) Accounts Receivable (add formula) Depreciation (add formula) Notes Payable Income Statement & Balance Sheet add formulas for all specify unreadable pictures if any...

Q:

On September 30, 2012, Synergy Bank loaned $88,000 to Kendall Kelsing on a oneyear, 12% note. Requirements 1. Journalize all entries for Synergy Bank related to the note for 2012 and 2013. 2. Which...

Q:

Let the Fourier coefficients for the source are given as Cf(0,k) = e a. Find F(x', 0). b. Calculate f(x,y) from the Fourier coefficients. c. Calculate the projection F(x,0) from f(x, y) and compare...

Q:

An investor owns both a June $ 3 8 call and a June $ 3 8 put. If the call finishes at the money, then the put will: Multiple Choice finish in the money. finish at the money. finish out of the money....

Q:

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...