FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Edge company has an receivables balance of 105000 OMR at the end of 2019, 135000 OMR at the end of 2020. The income statement shows

image text in transcribed
Edge company has an receivables balance of 105000 OMR at the end of 2019, 135000 OMR at the end of 2020. The income statement shows that Net Sales is 720000 OMR for 2020. According to the information above, which of the following is average collection period for 2020? Select one: O a. 90 days b. 60 days correct c. 55 days d. 39 days

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

Mastering ISO Auditing A Comprehensive Guide To Learn ISO Auditing

Mastering ISO Auditing A Comprehensive Guide To Learn ISO Auditing

Authors: Cybellium Ltd, Kris Hermans

1st Edition

B0CHL9PQFC, 979-8861285858

More Books

Students also viewed these Accounting questions

Question

★★★★★
A highly polished chromium flat plate is placed in a high-speed wind tunnel to simulate flow over the fuselage of a supersonic aircraft. The air flowing in the wind tunnel is at a temperature of 0?C,...

Answered: 1 week ago

Question

★★★★★
For each of the following accounts indicate the effects of (a) a debit and (b) a credit on the accounts and (c) the normal balance of the account. 1. Accounts Payable. 2. Advertising Expense. 3....

Answered: 1 week ago

Question

★★★★★
Describe the need for financial planning necessary for divorcing couples.

Answered: 1 week ago

Question

★★★★★
You are the owner of a small business that manages the program, food, and merchandise sales at the Excel Center, where the local professional basketball team plays. In addition to basketball games,...

Answered: 1 week ago

Question

★★★★★
Edge company has an receivables balance of 105000 OMR at the end of 2019, 135000 OMR at the end of 2020. The income statement shows that Net Sales is 720000 OMR for 2020. According to the information...

Answered: 1 week ago

Question

★★★★★
aterway Industries reported the following year-end information: ow much is Waterway's cost of goods manufactured for the year? $1413000 $1410000 $870000 $1407000

Answered: 1 week ago

Question

★★★★★
Case Study - Furniture Deliveries System A wholesaler to home delivery, sells furniture's for example: bedrooms, mattresses and dinning tables and other home appliances over the website and phone....

Answered: 1 week ago

Question

★★★★★
Identify a process or practice at your facility that needs improvement. Describe one part of the Pizza Turnaround video you relate to with respect to your work, or one idea from the video you feel...

Answered: 1 week ago

Question

★★★★★
6. Describe or show how you make 352 A's using an organizational system that matches how we write numbers. In other words, your organizational system should show 3 of something, 5 of something, and 2...

Answered: 1 week ago

Question

★★★★★
A bond pays coupons of size 30 every 6-months and the bond is redeemable for 1100. Furthermore, you are given the following information: The bond is purchased at P to yield and annual rate of 8%...

Answered: 1 week ago

Question

★★★★★
Create a class diagram for classes that would need to be created for the driver licensing system use case described in the previous question. At minimum you should have at least 5 different classes....

Answered: 1 week ago

Question

★★★★★
To whom might an entrepreneur present his or her business plan? Why? (Objective 4)

Answered: 1 week ago

Question

★★★★★
Assume you want to start a business in the community in which your school is located. What resources are available to youlocally or through the Internetas you approach the task of drafting a business...

Answered: 1 week ago

Question

★★★★★
A student organization to which you belong recently returned from its national conference. One of the highlights of the conference was announcement of Chapter of the Yearand your group won! Prepare...

Answered: 1 week ago

Previous Question Next Question