The Earhardt Flight School had accounts receivable of $98,500 and an average collection period of 35 days. What were the total credit sales for Earhardt?

Name: The Earhardt Flight School had accounts receivable of $98,500 and an average collection period of 35 days. What were the total credit sales for Earhardt?
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Question

Quizplus · Accepted Answer

To find the total credit sales, we use the formula: Total Credit Sales = (Accounts Receivable / Average Collection Period) * 365. Plugging in the values: ($98,500 / 35) * 365 = $1,027,214.29.

The Earhardt Flight School Had Accounts Receivable of $98,500 and an Average