Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. piper, inc. had net sales of $2,700,000 during 201

Piper, Inc. had net sales of $2,700,000 during 2016. On January 1, 2016, Pipers accounts...

80.2K

Verified Solution

Question

Accounting

Piper, Inc. had net sales of $2,700,000 during 2016. On January 1, 2016, Pipers accounts receivable were $640,000. On December 31, 2016, Pipers accounts receivable were $800,000.

What was Pipers average collection period for 2016? Please provide calculations so I can learn, thank you!

Select one: A. 108.1 days B. 15.5 days C. 48.7 days D. 97.3 days

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

Rearden Metal has earnings per share of $2. It has $10 million shares outstanding and is...

Finance
Q

What factors will influence the migration rate in CE? What factors may increase the resolution of...

Chemistry
Q

Consider a 20-year mortgage for $282845 at an annual interest rate of 4.1%. After 6 years,...

Advance Math
Q

Find the equation of the vertical asymptote.f(x) = ln (11-x)

Calculus
Q

60 The terminal velocity for an object dropped near the surface of Earth is the...

Algebra
Q

Elizabeth made taxable gifts of $6,800,000 in 2020 and $8,840,000 in 2022. She paid no...

Accounting
Q

Oxford Company has limited funds avaltable for irvestment and mast ration the funds among five...

Accounting
Q

The following data are for Trendy Fashion Apparel: North South Sales volume (units): ...

Accounting
Q

Ms Tracy Tan an Australian who after ten years working for the Department of Trade...

Accounting
Q

Automotive Products (AP) designs and produces automotive parts. In 2017, actual manufacturing overhead is $317,250....

Accounting
Q

All calculations must be shown in an orderly manner to obtain part The following Statement...

Accounting
Q

\begin{tabular}{|c|c|c|c|c|} \hline Fall 2023 Thu & \multicolumn{2}{|r|}{1/1/2022} & \multicolumn{2}{|c|}{12/31/2022} \\ \hline Trial Balance Assignment &...

Accounting