Selected information for 20X5 is as follows: Net sales (all on account) = $7,200,000 Average receivables = $960,000 Net income $720,000 Assuming a 360-day year, what was the average collection period (in days) for the receivables during 20X6? a. 7.5 b. 36 c. 48 d. 84 e. none of the above

I need answer of this question solution general accounting

19. The accounts receivable turnover is 8.14, and average net accounts receivable during the period is $400,000. What is the amount of net credit sales for the period? Brief Exercises Identify different types of receivables. BE8.1 (LO 1), C The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balan a. Sold merchandise on account for $64,000 to a customer. b. Received a promissory note of $57,000 for services performed. c. Advanced $10,000 to an employee. Record basic accounts receivable transactions. PEO AR Rooord the following transactions on the books of Jarvis Co. (Omit cost of goods sold entries.)

A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year Current Year $3,617,000 183,000 $ 4,517,000 150,000 Accounts receivable Less: Allowance for doubtful accounts $ 4,367,000 $3,434,000 Net accounts receivable $ 35,797,000 Net sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do not round intermediate calculations. Enter yo answers in thousands not in dollars.) Receivables Turnover Ratio Numerator 0 times Denominator Average Days Sales in Receivables Numerator 0 days Denominator II

A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year Current Year $ 4,517,000 150,000 $4,367,000 $3,617,000 183,000 Accounts receivable Less: Allowance for doubtful accounts $3,434,000 Net accounts receivable $ 35,797,000 Net sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do not round intermediate calculations. Enter your answers in thousands not in dollars.) Receivables Turnover Ratio Numerator 0 times Denominator Average Days Sales in Receivables Numerator O days Denominator

I need help

Explain  well with step by step  perfect  answer.

The financial statements of the Windsor, Inc. report net sales of $372000 and accounts receivable of $49200 and $22800 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 75.8 45.4 35.3 25.1

Please Help

Need answer