Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for ABC Company at December 31: ABC Company 35,000 7,000 1,000 12,000 72,000 800 Cash Average Accounts Receivable Average Bad

The following information is available for ABC Company at December 31: ABC Company 35,000 7,000 1,000 12,000 72,000 800 Cash Average Accounts Receivable Average Bad Debt Allowance Average Inventory Sales Revenue on Account Bad Debt Expense What is the average number of days to collect receivables for ABC Company? Round your answer to the nearest whole day. O 41 or 42 (depending on rounding) O 30-31 (depending on rounding) O 52-53 (depending on rounding) O 35-37 (depending on rounding)
image text in transcribed
The following information is available for ABC Company at December 31 : What is the average number of days to collect receivables for ABC Company? Round your answer to the nearest whole day. 41 or 42 (depending on rounding) 3031 (depending on rounding) 52.53 (depending on rounding) 35. 37 (depending on rounding)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions