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ABC Company reported the following on their financial statements: 2020 2019 Sales Revenue $860,000 $750,000 Accounts Receivable $160,000 $150,000 *Note: 50% of all sales are

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ABC Company reported the following on their financial statements: 2020 2019 Sales Revenue $860,000 $750,000 Accounts Receivable $160,000 $150,000 *Note: 50% of all sales are credit sales, A/R Turnover credit sales average accounts receivable Required: 1) Calculate the amount of the credit sales for 2019. Do not include Dollar Signs (S), Commas (), or decimals. Eg 100000 2) Determine the amount of the average accounts receivable for 2020. Do not include Dollar Signs (S), Commas (), or decimals. Eg 100000 3) What if? Assume that 85% of the 2020 sales are credit sales and average accounts receivable in 2020 is $140,000, what is the Accounts receivable turnover ROUNDED to TWO (2) decimal places for 2020? Eg. 2.77

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