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A recent annual report for NPS contained the following data: (dollars in thousands) Current Year Previous Year Accounts receivable $ 3,667,000 $ 4,597,000 Less: Allowance
A recent annual report for NPS contained the following data: (dollars in thousands) Current Year Previous Year Accounts receivable $ 3,667,000 $ 4,597,000 Less: Allowance for doubtful accounts 178,000 141,000 Net accounts receivable $ 3,489,000 $ 4,456,000 Net sales (assume all on credit) $ 35,997,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do not round intermediate calculations. Enter your answers in thousands not in dollars.)
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