Two Doors Down, Inc., has weekly credit sales of $38,900, and the average collection period is...
Two Doors Down, Inc., has weekly credit sales of $38,900, and
the average collection period is 37 days.
What is the company's average accounts receivable figure?
(Do not round intermediate calculations and round your
answer to 2 decimal places, e.g., 32.16.)
Average accounts receivable $ ____ ?
Homework Answers
Annual sales=$38900*52 weeks=$2022800
Average collection period=(Average AR/Annual sales)*365 days
37=(Average AR/2022800)*365 days
Average AR=(37*2022800)/365
which is equal to
=$205,050.96(Approx).
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Two Doors Down, Inc., has weekly credit sales of $38,900, and
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