Question
A company reports the following: Sales $378,140 Average accounts receivable (net) 27,010 Determine (a) the accounts receivable turnover and (b) the number of days' sales
A company reports the following:
| Sales | $378,140 |
| Average accounts receivable (net) | 27,010 |
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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Principles Of External Auditing
Authors: Brenda Porter, David Hatherly, Jon Simon
3rd Edition
0470018259, 9780470018255
