Powers Company reported Net sales of $1,200,000 and Accounts Receivable, net of $78,500. The Day's sales uncollected (rounded to whole days) is:
A. 4 days.
B. 48 days.
C. 24 days.
D. 15 days.
E. 56 days.
Answer: C
You might also like to view...
The data below is for Music Corporation for 2016. Accounts receivable—January 1, 2016 $236,000 Credit sales during 2016 820,000 Collections from credit customers during 2016 590,000 Customer accounts written off as uncollectible during 2016 8,000 Allowance for doubtful accounts—January 1, 2016 8,700 Estimated uncollectible accounts based on an aging analysis 9,600 Refer to the data for Music
Corporation. If the aging approach is used to estimate bad debts, what amount should be recorded as bad debt expense for 2016? a. $8,000 b. $8,100 c. $8,700 d. $8,900
________ are defined as companies that satisfy the same customer need
A) Communities B) Competitors C) Trendsetters D) Industries E) Task groups
________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records
A) Purchasing agents B) Rack jobbers C) Drop shippers D) Cash-and-carry wholesalers E) Manufacturers' agents
The Federal Trade Commission works with the ________ sectors to regulate fraud issues
A) telemarketing B) securities fraud C) communications D) advertising and sales practices