FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help!! Bramble Discount Supply Co. had a balance in the Accounts Receivable account of $700000 at the beginning of the year and a balance

please help!! image text in transcribed
Bramble Discount Supply Co. had a balance in the Accounts Receivable account of $700000 at the beginning of the year and a balance of $800000 at the end of the year. Net credit sales during the year amounted to $6075000. The average collection period of the recelvables in terms of days was 43.5 days: 45.1 days. 42.0 days. 4 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Using Accounting & Financial InformationAnalyzing, Forecasting, And Decision Making

Using Accounting & Financial InformationAnalyzing, Forecasting, And Decision Making

Authors: Mark S. Bettner

2nd Edition

1947098683, 9781947098688

More Books

Students also viewed these Accounting questions

Question

★★★★★
How does Table 1 compare to the discussion in the chapter? Effective Resolution Ineffective Resolution (N = 53) N % (N = 53) Withdrawal 9.4* 0.0* Smoothing Compromise Forcing Confrontation- 0.0 1.9...

Answered: 1 week ago

Question

★★★★★
Discu~s whether or not generating publicity is one of the few marketing communications activities that has not changed much as a result of the Internet.

Answered: 1 week ago

Question

★★★★★
Optimism and Academic Success A study was conducted on a large group of college freshmen in Pennsylvania to investigate the relationship between optimism and academic performance. The results? The...

Answered: 1 week ago

Question

★★★★★
Where would each of the following items most likely be reported in a companys financial statements? Assume the monetary amount of each item is material. 1. Bad debts expense 2. Sales discounts taken...

Answered: 1 week ago

Question

★★★★★
Beethoven's Piano Rebuilding Company has been operating for one year. On January 1 , at the start of its second year, its income statement accounts had zero balances and its balance sheet account...

Answered: 1 week ago

Question

★★★★★
National Beer Co. began business on January 1, 2019. Production and cost data relating to the months of January and February are as follows: Units produced Units sold (@$26 per unit) JANUARY FEBRUARY...

Answered: 1 week ago

Question

★★★★★
Question One (a) Sulin is an accountant at a large accounting firm. In May, she went to Hong Kong for an accounting conference. She incurred expenses of $2,000 on the plane ticket and$500 on hotel...

Answered: 1 week ago

Question

★★★★★
A person financed a motorcycle for $11,800 over 4 years with monthly payments of $295 at 5% add on interest. a) Determine the Finance Charge per $100. Round to the nearest cent. b) Determine the APR...

Answered: 1 week ago

Question

★★★★★
According to the article Practical Strategies for Death Notification in the Emergency Department, step 2, initiating contact discussed which of the following as best practices: Question 9 options:...

Answered: 1 week ago

Question

★★★★★
a random sample of 780 births in new york state included 385 boys and that sample is to be used for a test of the common belief of male births in the population is equal to 0.512. in testing the...

Answered: 1 week ago

Question

★★★★★
BEMC received several improper payments innocently. It was not their intention to trick the payer into these payments. In this situation, it is the most innocent of reasons for improper payments...

Answered: 1 week ago

Question

★★★★★
=+3. Is there a maximum absolute amount that a CEO should earn? Is $1 million a year OK? What about $10 million? $100 million? Is it OK to pay a CEO any amount, as long as the net benefit the CEO...

Answered: 1 week ago

Question

★★★★★
=+5. Primark is a low-cost retailer, while Marks & Spencer seeks to differentiate its products based on quality. Is there a causal link between these two different business-level strategies and the...

Answered: 1 week ago

Question

★★★★★
=+you get the sense that this is a genuine effort, or is it window dressing?

Answered: 1 week ago

Previous Question Next Question