A company reports the following Net sales $560,000 Average accounts receivable (net) 40,000 Determine (a) The accounts receivable turnover and (b) The number of days sales in receivables Round to one decimal place ...

a b Average daily sales net sales 365 days Average daily sales 560000 ...

A company reports the following: Net sales $560,000 Average accounts receivable (net) 40,000 Determine (a) The accounts

Question:

A company reports the following:

Net sales $560,000
Average (net) 40,000

Determine
(a) The turnover and
(b) The number of days’ sales in receivables. Round to one decimal place.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...