Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. mervyn's fine fashion has an average collection pe

Mervyn's Fine Fashion has an average collection period of 40 days. The accounts receivable balance...

90.2K

Verified Solution

Question

Finance

image

Mervyn's Fine Fashion has an average collection period of 40 days. The accounts receivable balance is $80,000. What is the value of credit sales? (Use 365 days in a year. Round the final answer to the nearest whole dollar.) Credit sales $

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

Accounting
1.2K views

Assume that McKinley Electronics completed these selected transactions during March 2016?: a. Sales of $ 2, 400,...

Biology
1.2K views

Question C Hemophilia A is a disease in which patients lack a clotting factor in...

Biology
1.2K views

You have the following ideas about the annual drought in the Southern States of the...

Geometry
1.2K views

A line passes through the points P 8 7 3 and Q 10 6 4...

Basic Math
1.2K views

The function D(t) can be used to approximate the total average credit card debt in...

Basic Math
1.2K views

A committee of five students is tobe selected from a group of sixgirls and four...

Algebra
1.2K views

Use the graph of f x to evaluate the following 5 H f x The...

Algebra
1.2K views

1 Using math symbols write twelve more than two times a number n is equal...

Accounting
1.2K views

Problem 16-59 (Algo) Sales Activity Variance (LO 16-3) The results...

Accounting
1.2K views

The following data relates to M/s. Zubair Co. for the month of August 2018 (...

Accounting
1.2K views

Faaliyet gsterdii sektrde pazar lideri konumunda olan ZIPE Co. baarsn uluslararas arenada da srdrmek istiyor....

Accounting
1.2K views

Prepare the following adjusting entries at August 31 for Walgreens. (a) Interest on notes payable...