Question: RACTICE PROBLEMS (F21) Saved Problem 3-3 Calculating the Average Collection Period (LO2] Dahlia Corporation has a current accounts receivable balance of $335,500. Credit sales for

 RACTICE PROBLEMS (F21) Saved Problem 3-3 Calculating the Average Collection Period

RACTICE PROBLEMS (F21) Saved Problem 3-3 Calculating the Average Collection Period (LO2] Dahlia Corporation has a current accounts receivable balance of $335,500. Credit sales for the year just ended were $4,448,730. a. What is the company's receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables c. Average collection period times days 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 Finance Questions!