A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? * a. P1,175,000.00 b. P1,275,000.00 c. P1,375,000.00 d. P1,475,000.00 e. P1,575,000.00

4. A Company has Net Sales of 2,000,000 for 2020, Accounts Recitable for 500,000 in 2020, and Accounts Receivable of 350,000 in 2019. Calculate the Accounts Receivable Turnover Ratio.

Yao Company reports the following in its 2021 annual report: Sales Accounts Receivable 2021 2020 2019 $2,650,000 $2,800,000 $2,500,000 $250,000 $240,000 $200,000 Answer the following question(s) by filling in the blanks. Do not include any symbols besides decimals in your answers (do not input commas). Formulas are provided after the questions. 1. Calculate the accounts receivable turnover for A. 2021. [1A] times B. 2020. [2A] times Accounts Receivable Turnover = Sales Revenue / Average Accounts Receivable [1A] = 11.52 x (/10.8+/) [1B] = 12.17 x (/12.7+/) 2. Calculate the average collection period for A. 2021. [2A] days B. 2020. [2B] days Average Collection Period Average Accounts Receivable / Average Daily Sales = 365/ Accounts Receivable Turnover = Yao Company reports the following in its 2021 annual report: Sales Accounts. Receivable C 2021 2020 2019 $2,650,000 $2,800,000 $2,500,000 $250,000 $240,000 $200,000 Answer the following question(s) by filling in the blanks. Do not include…

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