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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.
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