Question
A company reports the following: Sales $1,365,100 Average accounts receivable (net) 62,050 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
| Sales | $1,365,100 |
| Average accounts receivable (net) | 62,050 |
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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Teaching Calculation Audit And Test
Authors: Richard English
1st Edition
144627277X, 978-1446272770
