compute the number of days rsquo sales in receivables at december 31 2000 and 1999 544340
The Hawk Company wants to determine the liquidity of its receivables. It has supplied you with the following data regarding selected accounts for December 31, 2000, and 1999:
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2000 Don't use plagiarized sources. Get Your Custom Essay on
compute the number of days rsquo sales in receivables at december 31 2000 and 1999 544340
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1999 |
|
|
Net sales |
$1,180,178 |
$2,200,000 |
|
Receivables, less allowance for losses and discounts |
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|
Beginning of year (allowance for losses and |
||
|
discounts, 2000—$12,300; 1999—$7,180) |
240,360 |
230,180 |
|
End of year (allowance for losses and |
||
|
discounts, 2000—$11,180; 1999—$12,300) |
220,385 |
240,360 |
Required a. Compute the number of days’ sales in receivables at December 31, 2000, and 1999.
b. Compute the accounts receivable turnover for 2000 and 1999. (Use year-end gross receivables.)
c. Comment on the liquidity of the Hawk Company receivables.
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