YZ's receivables turnover is 24x. The accounts receivable at year-end are $410,000. The average collection period is 30 days. What was the sales figure or the year assuming all sales are on credit? Multiple Choice $17,083 $9,840,000

YZ's receivables turnover is 24x. The accounts receivable at year-end are $410,000. The average collection period is 30 days. What was the sales figure or the year assuming all sales are on credit? Multiple Choice $17,083 $9,840,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...

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XYZ's receivables turnover is 24x. The accounts receivable at year-end are $410,000. The average collection period is 30 days. What was the sales figure
for the year assuming all sales are on credit?
Multiple Choice
O
$17,083
$9,840,000
$410,000
$117.083

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