Average Collection Period

Related Topics

Wize University Introduction to Financial Accounting Textbook > Receivables

Receivables Turnover Ratio and Average Collection Period

3 Activities

Wize University Introduction to Financial Accounting Textbook > Financial Statement Analysis

Receivables Turnover Ratio

3 Activities

Maggie Corp. reported sales for 2023 of $600,000 of which one-half was on credit. The balance of accounts receivable was $40,000 at December 31, 2022 and $60,000 at December 31, 2023. The average collection period for Maggie Corp. for 2023 was:
 