Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 05, 2024

Matoika Manfacturing has annual sales of $4,800,000. The average collection period is 24 days. What is the average investment in accounts receivable as shown on

Matoika Manfacturing has annual sales of $4,800,000. The average collection period is 24 days. What is the average investment in accounts receivable as shown on the balance sheet? Assume 365 days per year. (Enter the answer in dollars. Do not round intermediate calculations. Round the final answer to nearest whole dollar amount. Omit $ sign in your response.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+CASE 4. rs , sass. By (7.30), A(r, s) = pq + qQ (2a - 1) - pqQ(2s - 1) - pqQ(2r). From 0 2a-1 =r +s -1 ;, follows Q(2a -1) =pQ(4a -2); and from :2a - = r+s- 1, follows Q(2a - 2) = p + qQ(4a -...

Answered: 1 week ago

Question

★★★★★

Sally wants to purchase a Burger Barn franchise. She can buy one for $ 750,000. Burger Barn headquarters provides the following information: Estimated annual cash revenues $ 420,000 Typical annual...

Answered: 1 week ago

Question

★★★★★

Compare GBN, SR and TCP (no delayed ACK). Assume that the timeout values for all three protocols are sufficiently long such that 5 consecutive data segments and their corresponding ACKs can be...

Answered: 1 week ago

Question

★★★★★

Where should the power and responsibility of national governments begin and end in cyberspace? Where does the responsibility of private firms begin and end in cybersecurity? How should regulatory...

Answered: 1 week ago

Question

★★★★★

Gary is awarding a gift card randomly to a list of names on a spreadsheet. To keep it fair he wants to draw a number and then award it to the person located at that number on the list. What function...

Answered: 1 week ago

Question

★★★★★

According to the ISA 300 'Planning and Audit of Financial Statement'. Outline the overall content of this audit strategy and the audit plan.

Answered: 1 week ago

Question

★★★★★

John is an elderly Italian man who lost his wife, Debra, to cancer 4 months ago. Since her death, John has become very isolated and is having regular thoughts of suicide. John's neighbour rings the...

Answered: 1 week ago

Question

★★★★★

Suppose that the integral I = (a) Determine b. f(x) da can be represented by the following Riemann sum using right endpoints and ni subintervals: 49 (A) 2 2 2 7 7 7n 7 49 + 49 n n n n n n (b)...

Answered: 1 week ago

Question

★★★★★

Derive the differential equations describing the electrical and mechanical dynamics of a shunt- connected DC motor, shown in Figure P14.36; and draw a simulation block diagram of the system. The...

Answered: 1 week ago

Previous Question Next Question