Unique Media Sign Incorporated sells on account. Recently, Unique reported the following figures: Requirements 1. Compute Unique's
Question:
Requirements
1. Compute Unique's days' sales in receivables for 2018. (Round to the nearest day.)
2. Suppose Unique's normal credit terms for a sale on account are 2/10, net 30. How well does Unique's collection period compare to the company's credit terms? Is this good or bad for Unique?
Transcribed Image Text:
2018 2017 Net Credit Sales $ 594,920 $ 602,000 Net Receivables at end of year 38,500 47,100
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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