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How much must be the estimated accounts receivable

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Q1. Accounts receivable are P30,000 and the turnover rate is 24 times a year. As turnover rate of 18 times in one year is desired to increase sales by 20%. How much must be the estimated accounts receivable to be maintained?

Q2. Merchandise Inventory of P60,000 turns over every 20 days on the average. How much must be the increase (decrease) therein if it is desired that turnover rate be 15 times in one year?

Q3. Bam sells on terms of net 20 days, but its accounts receivable average 10 days overdue. Assuming a 360-day year and annual credit sales of P 2.4 million, find the book value of Jam's receivables?

Reference no: EM132821891

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