A. Assuming a 365 day year, Bush Industries calculated an average of 47 days to collect its accounts receivable in 2015. During 2015, Bush's accounts receivable turnover rate:

1.Was approximately 7.77.2.Was equal to 47 times its average accounts receivable.3.Was approximately 0.13.4.Can't be determined from this information alone.

B. Stanley, Inc. s 2015 income statement reported net sales of $6,000,000, uncollectible accounts expense of $160,000, and net income of $700,000. Stanley's average accounts receivable during 2015 amounted to $1,200,000. Using 360 days to a year, Stanley s

1.Accounts receivable turnover rate is approximately 4.4 times.2.Accounts receivable turnover rate is approximately 2.5 times.3.Average number of days to collect an account receivable is 72 days.4.Accounts receivable turnover rate is approximately 2 times.