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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 58
Barga Co. reported net sales for 2014 and 2015 of $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2014, $65,000; and December 31, 2015, $123,000.
a. Calculate its days' sales uncollected at the end of each year. Round the number of days to one decimal.
b. Evaluate and comment on any changes in the amount of liquid assets tied up in receivables.
a. Calculate its days' sales uncollected at the end of each year. Round the number of days to one decimal.
b. Evaluate and comment on any changes in the amount of liquid assets tied up in receivables.
Explanation
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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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