If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) andannual net credit sales of 11,513,000, what is accounts receivable for Vabasa?Enter your answer as a whale number rounded to 0 decimal places, but do not include a dollar signor any commas in your answer. For example, enter $4,392,118.9342 as 4392119.Your Answer:Answer

Average Collection Period helps to know the trend of collection of dues. The formula of Average…

If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and annual net credit sales of 11,513,000, what is accounts receivable for Vabasa? Enter your answer as a whole number rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $4,392,118.9342 as 4392119. Your Answer: Answer

If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and annual net credit sales of 11,513,000, what is accounts receivable for Vabasa? Enter your answer as a whole number rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $4,392,118.9342 as 4392119. Your Answer: Answer

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

See similar textbooks

Similar questions

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
Salma Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P800,000, what is the company’s average investment in accounts receivable? choose the letter of correct answera. P44,444.00b. P144,444.00c. P224,444.00d. P244,444.00e. P344,444.00
A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number of collection days. (Do not round intermediate calculations, round your answer to two decimal places, i.e. 12.34) Using the abswer to the prvious question, how does the numbers relate to the terms of 2/10 net/30?
What is the APR if the monthly rate of interest a credit card company charges on outstanding balances is 1.62%? Select one: O a. APR =(1.0162)^12) -1 = 0.2127, and APR = 21.27% O b. APR = ((1.0162)^7) - 1 = 0.1191, and APR = 11.91% O C. APR =((1.0162)^52) - 1 = 1.3063, and APR = 130.63%
Suppose that the balance of a certain credit card is P43,744.53. The credit card company charges 3.5% per month. How much is the total balance owed to the credit card company.
The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
The Carhart Corporation sells on credit terms of net 25. Its accounts are, on average, 8 days past due. If annual credit sales are $6 million, what is the company's balance sheet amount in accounts receivable? Multiple Choice O $569,589.04 O $515,342.47 O $279,452.05
Candle Shop, Inc. has net sales on account of $1,700,000. The average net accounts receivable are $630,000. Calculate the Accounts receivable turnover ratio and days' sales in receivables.(Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.)
The following information relevant to accounts receivable is presented for Dharma Initiative (in thousands of dollars). Calculate the accounts receivable turnover ratio, and the days' sales outstanding ratio for the years 2022 and 2023. Do not enter dollar signs or commas in the input boxes.For accounts receivable turnover, round to one decimal place.For days' sales outstanding, round to the nearest whole number. 2023 2022 2021 Accounts Receivable $476 $488 $437 Allowance for Doubtful Accounts $25 $20 $21 Net Credit Sales $2,574 $3,552 $3,654 Accounts Receivable Turnover (in number of times) Answer Answer Days' Sales Outstanding (in days) Answer Answer On January 2, 2023, Dharma Initiative agreed to sell $240,000 of its accounts receivable with a 5% fee paid to the factor. Prepare the journal entry to record the factoring of accounts receivable. Do not enter dollar signs or commas in the input boxes.Enter the debit accounts in alphabetical order. Date Account…
Assume that you start with a balance of $3600 on your credit card. During the first month, you charge $400, and during the second month, you charge $550. Assume that your credit card charges a 29% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.) Finance Charge (+) Previous Purchases Payments (-) New Balance Balance (+) Month 1 Month 2
ABCD Corporation has credit sales of $12,690,000 and receivables of $1,970,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 50 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select-YesNoItem 3 , it is days overdue.
Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.)