CourseLover

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Teaching Since: May 2017
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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 13 Dec 2017 My Price 10.00

Calculate the days to collect for 2015 and 2016.

   

 

c.

Calculate the days to collect for 2015 and 2016.

Geisel, Inc. reported net sales revenue of $517,000 in 2015 and $620,000 in 2016. The company’s average net receivables were $121,000 during 2014 and $134,000 during 2015. At December 31, 2016, the company had Accounts Receivable of $149,000. and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,400. The company reported Bad Debt Expense of $7,120 during 2016

Required:
a.

Determine the net receivables at December 31, 2016.
b.

Calculate the receivables turnover ratio for 2015 and 2016.

 

 
   
   

 

Answers

CourseLover
(12)
Status NEW Posted 13 Dec 2017 02:12 PM My Price 10.00

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