Question
The following financial information isfor Annapolis Corporationarefor the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account Accounts Receivable 2019 $48,000 2018 $32,000
The following financial information isfor Annapolis Corporationarefor the fiscal years ending 2019 & 2018 (all balances are normal):
Item/Account
Accounts Receivable
2019 $48,000
2018 $32,000
Inventory
2019 42,000
2018 38,000
Net Sales (all credit)
2019 400,000
2018 350,000
Cost of Goods Sold
2019 154,000
2018 152,000
Net Income
2019 27,200
2018 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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The Financial Numbers Game
Authors: Charles W Mulford, Eugene E Comiskey
1st Edition
0471770736, 9780471770732
