Retail B2C Retail B2B (buisness to business) which of the following is likely to have a higher amount of accounts recievable and a longer receivables collection period?
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- Morgan had net sales of $1,041,105 and average accounts receivable of $157,000. Its competitor, Stanley, had net sales of $1,090,600 and average accounts receivable of $142,100. (a) Calculate the accounts receivable turnover for both companies. (b) Which company is doing a better job of managing its accounts receivables? Complete this question by entering your answers in the tabs below. Required A Required B Compute accounts receivable turnover for both companies. Morgan Stanley Choose Numerator: 1 1 1 Accounts Receivable Turnover Choose Denominator: = = Accounts Receivable Turnover Accounts receivable turnover times timesAccounts receivable are customer payments. (increased/decreased) by credit sales and are Need help? Review these concept resources. Read About the Concept increased decreased) byWhich of the following have high return and low Liquidity? a. demand deposit account b. saving account c. NOW account d. Checking account
- Which of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goodsWhich of the following is not a vendor transaction? Multiple Choice Order products Pay bills Make deposits Receive billsThe return of goods by a customer ( Sales Return ) should be credited in the ledger account of ? Select one: a. Sales account O b. Accounts receivable account O c. Purchase Return account O d. Sales Return account
- Why do you think businesses extend credit to customers thereby creating accounts receivable?Terminology Match each phrase with its definition. A. Sales discount B. Credit period C. Discount period D. FOB destination E. FOB shipping point F. Gross profit G. Merchandise inventory H. Purchases discount 1. 2. 3. 4. 5. 6. 7. 8. Goods a company owns and expects to see to its customers. Time period that can pass before a customer's full payment is due. Seller's description of a cash discount granted to buyers in return for early payment. Ownership of goods is transferred when the seller delivers goods to the carrier. Purchaser's description of a cash discount received from a supplier of goods. Difference between net sales and the cost of goods sold. Time period in which a cash discount is available. Ownership of goods is transferred when delivered to the buyer's place of business. 1docs.google.com/forms choose the right answer Net profit is calculated in which of the following account? Trading account O Trial balance Profit and loss account C Balance sheet choose the right answer Goods returned by customer will be debited to which account? Return outward Purchases A/C O Return inward Customer's A/c O