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Compute the ending balance of accounts receivable

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Reference no: EM132523294

Question - Scully Company had accounts receivable of €115,000 on January 1, 2020. The only transactions that affected accounts receivable during 2020 were net credit sales of €1,200,000, cash collections of €1,000,000, and accounts written off of €30,000.

Instructions -

(a) Compute the ending balance of accounts receivable.

(b) Compute the accounts receivable turnover for 2020.

(c) Compute the average collection period in days.

Reference no: EM132523294

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