Financial statement data for years ending December 31 for Chiro-Solutions Company follow: 20Y2 20Y1 Sales.................................$2,912,000.....$2,958,000 Accounts receivable:

Question:

Financial statement data for years ending December 31 for Chiro-Solutions Company follow:
20Y2 20Y1
Sales.................................$2,912,000.....$2,958,000
Accounts receivable:
Beginning of year....................300,000.........280,000
End of year...........................340,000..........300,000
a. Determine the turnover for 20Y2 and 20Y1.
b. Determine the days' sales in receivables for 20Y2 and 20Y1. Use 365 days and round to one decimal place.
c. Does the change in turnover and the days' sales in receivables from 20Y1 to 20Y2 indicate a favorable or unfavorable change?
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...