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In 2019, Matryoshka Ltd. in Moscow, Russia, has net credit sales of 9,237,950 for the year. It had a beginning accounts receivable (net) balance of
- In 2019, Matryoshka Ltd. in Moscow, Russia, has net credit sales of 9,237,950 for the year. It had a beginning accounts receivable (net) balance of 382,750 and an ending accounts receivable (net) balance of 359,880. Matryoshkas creditors generally demand payments within 20 days. (Currency in Russian ruble, )
Instructions (20%):
- Determine accounts receivable turnover and resident period in days for Matryoshka Ltd.
- Given Matryoshkas 20-day payment demand from creditors, how would you evaluate the companys liquidity to cope with it?
* If you find it difficult to show sign on your answer, just put R for currency unit.
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