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Original Media Sign Incorporated sells on account. Recently, Original reported the following figures Net Credit Sales Net Receivables at end of year Read the requirements $ 2024 2024 545,100 $ 38,900 2023 602,500 40,100 Requirement 1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) First calculate the accounts receivable turnover. (Abbreviations used: AR turn = accounts receivable turnover ratio, Cash Cash including cash equivalents, ST invest = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) AR turn

Original Media Sign Incorporated sells on account. Recently, Original reported the following figures Net Credit Sales Net Receivables at end of year Read the requirements $ 2024 2024 545,100 $ 38,900 2023 602,500 40,100 Requirement 1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) First calculate the accounts receivable turnover. (Abbreviations used: AR turn = accounts receivable turnover ratio, Cash Cash including cash equivalents, ST invest = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) AR turn

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...
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Original Media Sign Incorporated sells on account. Recently, Original reported the following figures Net Credit Sales Net Receivables at end of year Read the requirements. $ 2024 2024 545,100 $ 38,900 2023 Y 602,500 40,100 Requirement 1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) First calculate the accounts receivable turnover. (Abbreviations used: AR turn = accounts receivable turnover ratio, Cash Cash including cash equivalents; ST invest = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) G = AR turn
Transcribed Image Text:Original Media Sign Incorporated sells on account. Recently, Original reported the following figures Net Credit Sales Net Receivables at end of year Read the requirements. $ 2024 2024 545,100 $ 38,900 2023 Y 602,500 40,100 Requirement 1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) First calculate the accounts receivable turnover. (Abbreviations used: AR turn = accounts receivable turnover ratio, Cash Cash including cash equivalents; ST invest = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) G = AR turn
1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) 2. Suppose Original's normal credit terms for a sale on account are 2/10, net 30. How well does Original's collection period compare to the company's credit terms? Is this good or bad for Original? A
Transcribed Image Text:1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) 2. Suppose Original's normal credit terms for a sale on account are 2/10, net 30. How well does Original's collection period compare to the company's credit terms? Is this good or bad for Original? A
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