Accounting for Receivables

Kerwick Company had accounts receivable of $100,000 on January 1, 2020. the only transactions that affected accounts receivable during 2020 were net credit sales of $1,000,000, cash collections of $920,000, and accounts written off of $30,000.


  1. Compute the ending balance of accounts receivable.
  2. Compute the accounts receivable turnover for 2020.
  3. Compute the average collection period in days.


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