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IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 3 0 , 2
IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April and June : April : Received an order from Peter's Appliances, a wholesaler, for machines. April : Sold machines to Yuri Inc. on credit. May : The purchasing manager of Peter's Appliances visited IceKreme's factory and purchased machines on credit, instead of the machines that were previously ordered. May : Yuri Inc. paid for the machines purchased on April May : Sold machines to Cheng Ltd on credit. May : Wrote off $ of accounts receivable that were considered uncollectible. These receivables relate to sales made prior to April May : Peter's Appliances returned three defective machines and paid the amount due. June : Received $ from Cheng Ltd on account. June : Recovered $ from the receivables that were written off on May Additional information is as follows: IceKreme sold all machines at $ per unit. All of IceKreme's sales were on credit with terms IceKreme's records included the following items and their balances as at March : Accounts receivable. ANSWER THIS QUESTION: IceKremes net accounts receivable were $ at June Calculate IceKremes average collection period for fiscal year Use days a year. Round intermediate calculations to decimal places. Round the final answer to decimal place.
IceKreme Inc. makes ice cream machines for sale to ice cream parlours. The following events occurred between April and June
:
April : Received an order from Peter's Appliances, a wholesaler, for machines.
April : Sold machines to Yuri Inc. on credit.
May : The purchasing manager of Peter's Appliances visited IceKreme's factory and purchased machines on credit,
instead of the machines that were previously ordered.
May : Yuri Inc. paid for the machines purchased on April
May : Sold machines to Cheng Ltd on credit.
May : Wrote off $ of accounts receivable that were considered uncollectible. These receivables relate to sales
made prior to April
May : Peter's Appliances returned three defective machines and paid the amount due.
June : Received $ from Cheng Ltd on account.
June : Recovered $ from the receivables that were written off on May
Additional information is as follows:
IceKreme sold all machines at $ per unit.
All of IceKreme's sales were on credit with terms
IceKreme's records included the following items and their balances as at March :
Accounts receivable. ANSWER THIS QUESTION: IceKremes net accounts receivable were $ at June Calculate IceKremes average collection period for fiscal year Use days a year. Round intermediate calculations to decimal places. Round the final answer to decimal place.
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