Question
The following financial information isfor Annapolis Corporationarefor the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $32,000 $38,000
The following financial information isfor Annapolis Corporationarefor the fiscal years ending 2019 & 2018 (all balances are normal):
Item/Account
2019
2018
Accounts Receivable
$32,000
$38,000
Inventory
42,000
38,000
Net Sales (all credit)
490,000
350,000
Cost of Goods Sold
154,000
152,000
Net Income
27,200
24,800
Use this information to determinetheaccounts receivable averagecollection period for FY 2019.(Use 365 day year.Round your answers to one decimal place.)
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Essentials Of Accounting For Governmental And Not-for-Profit Organizations
Authors: Paul Copley
14th Edition
1260570177, 978-1260570175
