Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

* 26 Candle Shop, Inc. has net sales on account of $1,200,000. The average net accounts receivable are $620,000. Calculate the days' sales in receivables.(Use

* 26 Candle Shop, Inc. has net sales on account of $1,200,000. The average net accounts receivable are $620,000. Calculate the days' sales in receivables.(Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.) A. 188.14 days OB. 1.94 days C. 236.03 days D. 365 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

Students also viewed these Accounting questions

Question

★★★★★

Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15,000 units. Southeastern estimates its...

Answered: 1 week ago

Question

★★★★★

Is Sterling guilty of stereotyping? Prejudice? Discrimination? Explain.

Answered: 1 week ago

Question

★★★★★

Harry, a friend of yours, is taking a course in economics, and has become confused by some of the terminology because of the way people commonly use the same words. The economics professor says...

Answered: 1 week ago

Question

★★★★★

The following selected transactions relate to cash collections for a firm that uses a cash register. Present entries to record the transactions for each of the two days of cash receipts from sales....

Answered: 1 week ago

Question

★★★★★

Studemeir Paint & Floors (SPF) has experienced net operating losses in its Other Flooring Products line during the last few periods. SPFs management team thinks that the store will improve its...

Answered: 1 week ago

Question

★★★★★

At the beginning of 2020, Dash Company began marketing a new beer called SoBeer. To help promote the product, the management is offering a special SoBeer mug to each customer for every 20 specially...

Answered: 1 week ago

Question

★★★★★

The 9-percent-coupon-rate bonds of the Melbourne Mining Company have exactly15 years remaining to maturity. The current market value of one of these $1,000-parvaluebonds is $700. Interest is paid...

Answered: 1 week ago

Question

★★★★★

23. Question 23 Adventure Works recently launched a new product, and the sales data is pouring in. You decide to visualize this data using scatter plots to understand the purchase patterns across...

Answered: 1 week ago

Question

★★★★★

Why is it crucial to adhere to the six-step financial planning process for comprehensive financial management? Question 24 options: Because everyone else does For clarity of your services and...

Answered: 1 week ago

Question

★★★★★

Cassandra wants to produce consistently sized baked goods, so she draws a sample of 12 cashew toffee tarts and weighs them (in ounces). She finds a 90% confidence interval of (3.8, 4.2). Which is the...

Answered: 1 week ago

Question

★★★★★

A researcher uses Likert scale items asking nurses how strongly they agree with various statements about professional identity. The items are totaled to form an overall score. This is an example of...

Answered: 1 week ago

Previous Question Next Question