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The Lefty Golf Co. reported Credit Sales of $4,000,000 at year-end of 2022. The balance sheet at 12/31/2021 reported Accounts Receivable of $450,000, and $550,000

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The Lefty Golf Co. reported Credit Sales of $4,000,000 at year-end of 2022. The balance sheet at 12/31/2021 reported Accounts Receivable of $450,000, and $550,000 at 12/31/2022. What was the Days to Collect? On May 1, 2022, Andrews Company purchases 150 units of product for resale from the Burke Co., on account. Each unit costs $40. Terms: 2/10, Net 30. FOB Shipping Point. Shipping costs are $100 and paid in cash by the responsible party. The journal. entry to record the purchase of the inventory would include: Credit Accounts Payable $6,000 Credit Inventory $6.000 A debit to shipping expense of $100 A credit to liventory of $100 to record the shiigpins cxacrisis

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