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A recent annual report for NPS contained the following data: (dollars in thousands) Current Year Previous Year Accounts receivable $ 3,727,000 $ 4,527,000 Less: Allowance
A recent annual report for NPS contained the following data:
(dollars in thousands) | ||||||||
Current Year | Previous Year | |||||||
Accounts receivable | $ | 3,727,000 | $ | 4,527,000 | ||||
Less: Allowance for doubtful accounts | 185,000 | 148,000 | ||||||
Net accounts receivable | $ | 3,542,000 | $ | 4,379,000 | ||||
Net sales (assume all on credit) | $ | 35,397,000 | ||||||
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.)
A recent annual report for NPS contained the following data: Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) (dollars in thousands) Current Year Previous Year $ 3, 727,000 $ 4,527,000 185,000 148,000 $ 3,542,000 $ 4,379,000 $ 35,397,000 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.) Receivables Turnover Ratio Numerator Denominator 0 times Average Days Sales in Receivables Numerator Denominator daysStep by Step Solution
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