Computing Receivable Ratios Broadway Inc. recognized credit sales of $220,000 for the year ended December...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Computing Receivable Ratios
Broadway Inc. recognized credit sales of $220,000 for the year ended December 31, 2020. The accounts receivable balances at December 31, 2019, and at December 31, 2020, were $22,656 and $22,000, respectively. Compute Broadways receivable turnover ratio and its average days to collect receivables for 2020.
Note: Enter the answer rounded to one digit after the decimal; for example, enter 1.4 for 1.44 or 1.5 for 1.45.
| Accounts receivable turnover | |
| Average days to collect receivables |
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.