Question
A company reports the following: Sales$928,560 Average accounts receivable (net)87,600 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When
A company reports the following:
Sales$928,560 Average accounts receivable (net)87,600
Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.
a. Accounts receivable turnoverfill __________
b. Number of days' sales in receivablesfill in the _________2days
The following items are reported on a company's balance sheet:
Cash$210,900Marketable securities89,800Accounts receivable257,800Inventory211,500Accounts payable308,400
Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place.
a. Current ratiofill ________ b. Quick ratiofill _______
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