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Compute the ending balance of accounts receivable

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Question - Pina Colada Corp. had accounts receivable of $140,000 on January 1, 2020. The only transactions that affected accounts receivable during 2020 were net credit sales of $4,950,000, cash collections of $4,850,000, and accounts written off of $50,000.

Required -

1. Compute the ending balance of accounts receivable.

2. Compute the accounts receivable turnover for 2020.

3. Compute the average collection period in days.

Reference no: EM133064853

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