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A company reports the following: Sales $255,500 Average accounts receivable (net) 25,550 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
Sales | $255,500 |
Average accounts receivable (net) | 25,550 |
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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