The account receivable turnover measures:

a. How long it takes to sell accounts receivable to a factor.
b. How often, on average, receivables are received and collected during the period.
c. All of the options are correct.
d. How long it takes to sell merchandise inventory.
e. The relation of cash sales to credit sales.

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Which two of the following are benefits of consumer programs

Which of the following is not an example of one of the four mail advantages of prices on a free market economy