Question
A company reports the following: Sales $1,079,670 Average accounts receivable (net) 63,510 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
| Sales | $1,079,670 |
| Average accounts receivable (net) | 63,510 |
Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.
| a. Accounts receivable turnover | fill in the blank 1 |
| b. Number of days' sales in receivables | fill in the blank 2 days |
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Using Financial Accounting Information The Alternative To Debits And Credits
Authors: Porter And Norton
1st Edition
1285128257, 978-1285128252
