Question
The current asset section of the Moorcroft Outboard Motor Companys balance sheet reported the following amounts: 12/31/2021 12/31/2020 Accounts receivable, net $ 400,000 $ 300,000
The current asset section of the Moorcroft Outboard Motor Companys balance sheet reported the following amounts:
| 12/31/2021 | 12/31/2020 | |||||
| Accounts receivable, net | $ | 400,000 | $ | 300,000 | ||
The average collection period for 2021 is 50 days. Required: Determine net sales for 2021. (Use 365 days in a year. Do not round intermediate calculations.)
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
8th edition
1111534918, 978-1111534912
