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E8-14 Lashkova Company

Price: $1.99


E8-14 Lashkova Company had accounts receivable of $100,000 on January 1, 2014. The
only transactions that affected accounts receivable during 2014 were net credit sales of
$1,000,000, cash collections of $920,000, and accounts written off of $30,000.

Instructions
(a) Compute the ending balance of accounts receivable.
(b) Compute the accounts receivable turnover ratio for 2014.
(c) Compute the average collection period in days

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