Question
A company reports the following: Sales $219,000 Average accounts receivable (net) 18,250 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
| Sales | $219,000 |
| Average accounts receivable (net) | 18,250 |
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 ___ |
| b. Number of days' sales in receivables | fill in the blank ___ days |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Content Audits And Inventories A Handbook
Authors: Paula Ladenburg Land
1st Edition
1937434389, 978-1937434380
