Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dolphins Fun House reported an average Accounts Receivable balance of $3,031,000 and a Accounts Receivable Turnover ratio of 8.5. If cash sales for the year

Dolphins Fun House reported an average Accounts Receivable balance of $3,031,000 and a Accounts Receivable Turnover ratio of 8.5. If cash sales for the year totaled $5,234,000, what was Dolphins TOTAL Sales for the year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Auditing and Assurance services an integrated approach

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

14th Edition

133081605, 132575957, 9780133081602, 978-0132575959

More Books

Students also viewed these Accounting questions

Question

Discuss demand elasticity and what it means to IMC planning.

Answered: 1 week ago