Tower, Inc. had net sales of $4,725,000 during 2019. On January 1, 2019, Tower's accounts receivable were $960,000. On December 31, 2019, Tower's accounts receivable were $1,200,000.
What was Tower's average collection period for 2019?
A) 83.4 days
B) 13.8 days
C) 96.2 days
D) 43.3 days
Correct Answer:
Verified
Q53: Angela, Inc. received a $16,000 30-day,
Q54: Balen, Inc. received a $48,000 30-day,
Q55: Percy, Inc. had net sales of $1,530,000
Q56: Tower, Inc. had net sales of $4,725,000
Q57: Percy, Inc. had net sales of $1,530,000
Q59: Storm Company has net credit sales of
Q60: Scorpion Company has net credit sales of
Q61: At the beginning of 2019, Page Company's
Q62: At the beginning of 2019, Brown Company's
Q63: Losh Company has the following unadjusted account
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents