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Evans Company had accounts receivable of $139,000 on January 1, 2021. The only transactions that affected accounts receivable during 2021 were net credit sales of
Evans Company had accounts receivable of $139,000 on January 1, 2021. The only transactions that affected accounts receivable during 2021 were net credit sales of $1,250,000, cash collections of $1,100,000, sales returns of $10,000, and accounts written off of $45,000.
(a) Compute the ending balance of accounts receivable
(b) Compute the accounts receivable turnover for 2021
(c) Compute the average collection period in days
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