ACC 557 Week 6 Assignment 2 You Are an Entrepreneur!( 2 Paper)
receivable during 2014 were net credit sales of $ 1,000,000, cash collections of $ 920,000, and accounts written off of $ 30,000.............
a) Compute the ending balance of accounts receivable. b) Compute the accounts receivable turnover ratio for 2014. c) Compute the average collection period in days.
P8-7A: On January 1, 2014, Derek Company had Accounts Receivable $ 139,000, Notes Receivable $ 30,000, and Allowance for Doubtful Accounts $ 13,200. The note receivable is from Kaye Noonan Company. It is a 4-month, 12 % note dated December 31, 2013. Derek Company prepares financial statements annually. During the year, the following selected transactions occurred.............
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ACC 557 Week 6 Assignment 2 You Are an Entrepreneur!( 2 Paper)
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Student life does not generally afford a great deal of free time to pursue your personal interests; however, at one point, you may have considered turning a personal interest or hobby into an official enterprise. Today, you have finally decided to turn that hobby into a