Solution-Compute the average collection period in days

Compute the average collection period in days

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Reference no: EM13511750

Bledel Company had accounts receivable of $100,000 on January 1, 2010. The only transactions that affected accounts receivable during 2010 were net credit sales of $1,000,000, cash collections of $900,000, and accounts written off of $30,000.

Instructions

(a) Compute the ending balance of accounts receivable.
(b) Compute the accounts receivable turnover ratio for 2010.
(c) Compute the average collection period in days.

Reference no: EM13511750

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Compute the average collection period in days : Bledel Company had accounts receivable of $100,000 on January 1, 2010. The only transactions that affected accounts receivable during 2010 were net credit sales of $1,000,000, cash collections of $900,000, and accounts written off of $30,000.

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Compute the average collection period in days

Reference no: EM13511750

Reference no: EM13511750

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