FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ's receivables turnover is 21x. The accounts receivable at year-end are $440,000. The average collection period is 150 days. What was the sales figure for

image text in transcribed
XYZ's receivables turnover is 21x. The accounts receivable at year-end are $440,000. The average collection period is 150 days. What was the sales figure for the year assuming all sales are on credit? Select one: a. $9,240,000 b. $440,000 c. $20,952 d. $120,952

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

American Public School Finance

American Public School Finance

Authors: William A. Owings, Leslie S. Kaplan

3rd Edition

113849996X, 978-1138499966

More Books

Students also viewed these Finance questions

Question

★★★★★
What are the qualities of the Internet that have put competitive pressures on businesses?

Answered: 1 week ago

Question

★★★★★
Which cell relates to the scattergram between internal beliefs and external beliefs? (a) d1 (b) d2 (c) d3 (d) d4

Answered: 1 week ago

Question

★★★★★
Testing: Could the participants have become test-wise because of the pretest?

Answered: 1 week ago

Question

★★★★★
An economist reports that 560 out of a sample of 1,200 middle-income American households actively participate in the stock market. a. Construct the 90% confidence interval for the proportion of...

Answered: 1 week ago

Question

★★★★★
How does GlobalTech show lack of supply chain resilience

Answered: 1 week ago

Question

★★★★★
If there were 60,000 pounds of raw materials on hand on January 1, 120,000 pounds are desired for inventory at January 31, and 360,000 pounds are required for January production, how many pounds of...

Answered: 1 week ago

Question

★★★★★
After a breakthrough election victory at Amazon, the Amazon Labor Union fell far short of winning enough votes to unionize a second warehouse on Staten Island in New York. The vote was 618 votes...

Answered: 1 week ago

Question

★★★★★
How can you customize this report to find any open balances? Customize > Filter, then choose Uncleared in the Cleared dropdown Gear icon > Change columns, then mark the Credit checkbox in Change...

Answered: 1 week ago

Question

★★★★★
A codebook is used in quantitative research to define the variables (or columns) in a data set and the response categories for each of these variables. Looking at the codebook for this Assessment,...

Answered: 1 week ago

Question

★★★★★
Based on Iceberg Model of "Learning Organization" ( Artifacts, Espoused Values and Basic Assumptions) are analyze and reflected in each of the different levels of culture at Amazon? Reference:...

Answered: 1 week ago

Question

★★★★★
For this task, you need to use the provided pcapanalysis.py and TCP.reflection.pcap files to create three functions. The snippet below shows where you need to code the functions and the expected...

Answered: 1 week ago

Question

★★★★★
Why should an organization retain all documentation that is required by law but periodically clean out and dispose of unneeded records?

Answered: 1 week ago

Question

★★★★★
Why is it advisable to maintain documentation having a bearing on employee health issues separately from regular personnel files?

Answered: 1 week ago

Question

★★★★★
Under what circumstances is polygraph testing of employees legal?

Answered: 1 week ago

Previous Question Next Question