Kerwick Company had net accounts receivable of $100,000 on January 1, 2022. The only transactions that affected

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Kerwick Company had net accounts receivable of $100,000 on January 1, 2022. The only transactions that affected accounts receivable during 2022 were net credit sales of $1,000,000. At December 31, 2022, the company had net receivables of $150,000.

Instructions

a. Compute the accounts receivable turnover for 2022.

b. Compute the average collection period in days.

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Financial Accounting

ISBN: 9781119594598

11th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Oct 21, 2020 08:24 AM

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Kerwick Company had net accounts receivable of $100,000 on January 1, 2022. The only transactions that affected

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Financial Accounting

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