Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dome metals has credit sales of $234,000 yearly wi

Dome Metals has credit sales of $234,000 yearly with credit terms of net 30 days,...

50.1K

Verified Solution

Question

Accounting

image
Dome Metals has credit sales of $234,000 yearly with credit terms of net 30 days, which is also the average collection period. Dome does not offer a discount for eary payment, so its customers take the full 30 days to pay a. What is the average receivables balance? (Use a 360-day year.) Average recewables balance b. What is the receivables turnover?(Use a 360 day year.) times turnover

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

New-Project Analysis The Campbell Company is considering adding a robotic paint sprayer to its production line. The...

Finance
Q

Suppose International Digital Technologies decides to raise a total of $200 million, with $100 million as...

Finance
Q

Describe the mechanisms by which the body monitors and reacts to increased carbon dioxide production (for...

Medical Sciences
Q

A 1200 mm deep by 750 mm wide post-tensioned simply supported beam is shown below. The...

Civil Engineering
Q

Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and...

Basic Math
Q

Find the values of the variables H a 2 5z 1 7m 12k 5 N...

Algebra
Q

Kroger Company is one of the largest retail food companies in the United States as...

Accounting
Q

The December 31, Year 4, balance sheet for Burdette Corporation is presented here. These are...

Accounting
Q

On July 1, 2021, Sea Universe issued $12 million of its 6% bonds for $10.8...

Accounting
Q

Consider a central planning authority (like the former Soviet Union or Wal-Mart), who operates J...

Accounting
Q

Alpha company had an inventory of 10 units costing 6 each on june 1 ...

Accounting
Q

Voucher payable were paid, $ 398,959 Journal Entry

Accounting