Adair corp. is concerned because the average time to collect its accounts receivable was 10 days longer than its normal credit terms of net 30. adair reported the following in the current assets section of its comparative balance sheets:
12/31/17 12/31/16
current assets:
accounts receivable $123,300 $93,900
1. assuming 360 days in a year, determine adair's net credit sales for 2017?
Solved
Show answers
More tips
- F Food and Cooking How to Make Napoleon Cake: A Step-by-Step Guide...
- H Health and Medicine How to Increase Hemoglobin in the Blood...
- F Food and Cooking How to Make Chebureki: A Delicious Recipe for Russian Street Food...
- S Style and Beauty Ultimate Guide on How to Care for Suede Shoes...
- T Travel and tourism How to Use a Compass: A Beginner s Guide...
- D Dating, Love, Relationships Does a Person s Character Depend on the Color of Their Eyes?...
- F Food and Cooking Is it Really Possible to Cook Tasty Colored Cauliflower?...
- H Health and Medicine Why do our Joints Crack?...
- H Health and Medicine These Food Additives Can Do Significant Harm to Your Health...
- F Food and Cooking How to Choose the Right Olive Oil: A Comprehensive Guide...
Answers on questions: Business
- B Business Start with the partial model in the file ch12 p10 build a model.xlsx on the textbook’s web site, which contains the 2016 financial statements of zieber corporation. forecast zeiber...
- C Computers and Technology THE CODE TO MY FORTNITE PADLET...
- M Mathematics A raised flower bed is 40 feet long, 7 feet wide, and 1.2 feet deep. Find the area of the bed and the volume of soil it holds....
- M Mathematics At an airport parking garage, the cost to park is $15 for the day and $10 for each subsequent day. Select all the functions that can be used to find the total parking cost, p(n),...
- M Mathematics Agroup left on a trip at 8: 50 am and reached its destination at 3: 30 pm. how long, in hours and minutes, did the trip take?...
Ответ:
$1,109,700
Explanation:
The computation of the net credit sales is shown below:
Ending balance of account receivable = Net credit sales ÷ total number of days in a year × (credit days + average days)
$123,300 = Net credit sales ÷ 360 × (30 days + 10 days)
$123,300 = (Net credit sales ÷ 360 days) × 40 days
$123,300 × 360 days ÷ 40 days = Net credit sales
So, the net credit sales would be
= $1,109,700
Ответ:
its either design or i'm just plain out stupid
Explanation: