Textbook:Accounting Principles 9th edition, ISBN 978-0470-31754-9, Weygandt

Read Chapter 9. Pages 414 and 415 show the formulas needed for this assignment.

Bledel Company had accounts receivable of $100,000 on January 1, 2010. The only transactions that affected accounts receivable during 2010 were net credit sales of $1,000,000; cash collections of $900,000 and accounts written off of $30,000.

a. Compute the ending balance of accounts receivable on 12/31/10.

b. Compute the accounts receivable turnover ratio for 2010.

c. Computer the average collection period in days.