The following information was taken from Nash Inc.'s trial balances as of December 31, 2018, and December

Question:

The following information was taken from Nash Inc.'s trial balances as of December 31, 2018, and December 31, 2019.

12/31/2019 12/31/2012 $ 32,000 47,000 219,000 4,000 47,000 5,000 $ 39,000 36,000 128,000 2,300 16,000 1,000 9,000 Accoun

Required:
1. Calculate the net profit margin and accounts receivable turnover for 2019.
2. How much does Nash make on each sales dollar?
3. How many days does the average receivable take to be paid (assuming all sales are on account)?

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Cornerstones of Financial Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

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Question Posted: Dec 11, 2017 08:30 AM

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The following information was taken from Nash Inc.'s trial balances as of December 31, 2018, and December

Question:

12/31/2019 12/31/2012 $ 32,000 47,000 219,000 4,000 47,000 5,000 $ 39,000 36,000 128,000 2,300 16,000 1,000 9,000 Accounts receivable Accounts payable Sales Sales returns Retained earnings Dividends Net income 36,000

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1 Net sales Sales 219000 Sales returns 4000 Net sales 215000 Aver...View the full answer

Cornerstones of Financial Accounting

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