Products are sold to customers based on accepted purchase orders which include quantity, sales price and other
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SEGMENT AND GEOGRAPHIC INFORMATION:
The Company operates as a single reportable segments encompassing the manufacturing and sale of confectionery products. Its principal manufacturing operations are located in the United States and Canada, and its principal market is in the United States. The Company also manufactures and sells confectionery products in Mexico, and exports products to Canada and countries worldwide.
The following geographic data includes net product sales summarized on the basis of the customer location and long-lived assets based on their location:
Calculate the accounts receivable turnover and average collection period for 2011. (Use "Net Product Sales." Assume all sales were credit sales.) (Round answers to 1 decimal place, e.g. 15.2.)
Accounts receivable turnover.............................times
Average collection period..................................days
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Accounting Information Systems
ISBN: 9780132871938
11th Edition
Authors: George H. Bodnar, William S. Hopwood
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