Solution-Determine the accounts receivable average

Determine the accounts receivable average collection period

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Question - The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal):

Item/Account	2019	2018
Accounts Receivable	$46,000	$50,000
Inventory	42,000	38,000
Net Sales (all credit)	450,000	350,000
Cost of Goods Sold	154,000	152,000
Net Income	27,200	24,800

Use this information to determine the accounts receivable average collection period for FY 2019.

Reference no: EM132483755

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Determine the accounts receivable average collection period

Reference no: EM132483755

Reference no: EM132483755

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