0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How do you calculate accounts receivable turnover rate?
Net Sales / Average Accounts Receivable = Account Receivable Turnover
How do you calculate days' sales uncollected?
By dividing accounts receivable by net sales and multiplying by 365 days.
How do you calculate net accounts receivable?
should accounts revceivable (net) bedeleted out Not sure what the first answer is saying, but net accounts receivable is total accounts receivable less allowance for doubtful accounts (accounts you think are not going to pay you)
What is the journal entry for credit sales?
Accounts-receivable@ Sales(sales being in your Results and accounts-receivable in your balance sheet)
Is accounts receivables net sales?
No, it is not. Accounts receivable is the total balance owed to the company by its customers. Net sales is the total value of sales made to customers during a period of time, excluding any returns and discounts.
How do you calculate accounts receivable turnover rate?
Net Sales / Average Accounts Receivable = Account Receivable Turnover
How calculate accounts receivable turnover ratio?
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
How do you calculate days' sales uncollected?
By dividing accounts receivable by net sales and multiplying by 365 days.
How do you calculate net accounts receivable?
should accounts revceivable (net) bedeleted out Not sure what the first answer is saying, but net accounts receivable is total accounts receivable less allowance for doubtful accounts (accounts you think are not going to pay you)
What is the journal entry for credit sales?
Accounts-receivable@ Sales(sales being in your Results and accounts-receivable in your balance sheet)
If you have a sale what does it do to the accounts receivable?
If sales is credit sales then it will create accounts receivable which means money is receivable from customers at future time.
Is accounts receivables net sales?
No, it is not. Accounts receivable is the total balance owed to the company by its customers. Net sales is the total value of sales made to customers during a period of time, excluding any returns and discounts.
A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
Why is accounts receivable an assit?
Because accounts receivable is that amount which is receivable from customer due to sales of goods on credit.
Is the accounts receivable turnover ratio is computed by dividing total sales by the average net receivables during the year?
yes
How is accounts receivable effected by credit sales?
Any sales on account (aka credit sales) will increase accounts receivable by the same amount. The journal entry for this would be: Account Receivable (debit) Sales (revenue) (credit)
What is the double entry for sale?
Cash/Bank/Accounts Receivable [Debit] Sales[Credit]
