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I would really appreciate help with this problem on Accounts Recievable Turnover and Day Sales Outstanding. 10 Question Partially correct Mark 6.00 out of 10.00
I would really appreciate help with this problem on Accounts Recievable Turnover and Day Sales Outstanding.
10 Question Partially correct Mark 6.00 out of 10.00 Flag question Take me to the text The following information relevant to accounts receivable is presented for Cyberdyne Systems Company (in thousands of dollars). Calculate the accounts receivable turnover ratio, and the day sales outstanding ratio for the years 2017 and 2018. Do not enter dollar signs or commas in the input boxes. For accounts receivable turnover, round to one decimal place. For day sales outstanding, round to the nearest whole number. 2017 Accounts Receivable Allowance for Doubtful Accounts Net Credit Sales Accounts Receivable Turnover (in number of times) 6.4 Day Sales Outstanding (in days) 2018 $457 $17 $2,778 X x 9.4 2016 $468 $325 $17 $16 $3,758 $3,674 x On January 2, 2019, Cyberdyne Systems Company agreed to sell $168,000 of its accounts receivable with a 6% fee paid to the factor. Prepare the journal entry to record the factoring of accounts receivable. Do not enter dollar signs or commas in the input boxes. Enter the debit accounts in alphabetical order. Date Jan 2 Account Title and Explanation Cash Factoring Expense Accounts Receivable Debit 157920 10080 Credit 168000 To record sale of accounts receivable Check
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