Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 04, 2024

Black Guard Security has annual sales of $379,000 and a collection period of 21.01 days. What is the company's average balance in accounts receivable? Assume

image text in transcribed

Black Guard Security has annual sales of $379,000 and a collection period of 21.01 days. What is the company's average balance in accounts receivable? Assume 365 days per year. Multiple Choice $22,543.06 $17,523.63 $18,039.03 $21,815.86

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

International Financial Management

Authors: Cheol Eun, Bruce Resnick

7th Edition

0077861604, 9780077861605

More Books

Students also viewed these Finance questions

Question

★★★★★

EKU, Inc., issued $560,000 of 6%, 10-year bonds payable at a price of 80.5 on March 31, 2012. The market interest rate at the date of issuance was 9%, and the EKU bonds pay interest semiannually. 1....

Answered: 1 week ago

Question

★★★★★

An electric utility uses a Pennsylvania coal that has an ultimate analysis (by mass) of 84.36 percent C, 1.89 percent H 2 , 4.40 percent O 2 , 0.63 percent N 2 , 0.89 percent S, and 7.83 percent ash...

Answered: 1 week ago

Question

★★★★★

6. What are the key themes in the negative mentions?

Answered: 1 week ago

Question

★★★★★

On January 1, 2018, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year period ending December 31, 2021, at which time possession of the leased asset will revert...

Answered: 1 week ago

Question

★★★★★

Black Guard Security has annual sales of $379,000 and a collection period of 21.01 days. What is the company's average balance in accounts receivable? Assume 365 days per year. Multiple Choice...

Answered: 1 week ago

Question

★★★★★

what would this be? You are playing the "Root Beer Game" simulation with the above supply chain. The following table displays the inventory levels for all members of the supply chain: Customer walks...

Answered: 1 week ago

Question

★★★★★

6.2 Tee Time GuestLodge, Inc. also has the right to operate a golf course near the national park. GuestLodge sells punch cards to the course, where customers can pay $500 to purchase a "10-Pack" (10...

Answered: 1 week ago

Question

★★★★★

Bear Tree Services reports the following amounts on December 31, 2024. Assets Cash Supplies Prepaid insurance Building Liabilities and Stockholders' Equity $9,200 Accounts payable $14,200 3,300...

Answered: 1 week ago

Question

★★★★★

3 00:39:40 Kramer Corp. began the current period with 4,180 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,620 in direct materials and $4,880...

Answered: 1 week ago

Question

★★★★★

Mendez Inc. had the following information for the preceding year. Beginning Ending Inventory Inventory (1/1) (12/31) Work in Process Inventory $ ?? $ 37,000 Finished Goods Inventory $ ?? $ 32,000...

Answered: 1 week ago

Question

★★★★★

The April 30, 2020, bank statement for Comet Company showed a cash balance of $7,700. The cash account in the company's general ledger (G/L), according to the company's records on April 30, had a...

Answered: 1 week ago

Previous Question Next Question