Question
A company reports the following: Sales $1,500,000 Average accounts receivable (net) 100,000 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
| Sales | $1,500,000 |
| Average accounts receivable (net) | 100,000 |
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 | |
| b. Number of days' sales in receivables | days |
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Management Control Systems
Authors: Kenneth Merchant, Wim Van Der Stede
5th Edition
1292444134, 9781292444130
