Question
Accounts Receivable Analysis A company reports the following: Sales $3,150,000 Average accounts receivable (net) 210,000 Determine (a) the accounts receivable turnover and (b) the number
Accounts Receivable Analysis
A company reports the following:
| Sales | $3,150,000 |
| Average accounts receivable (net) | 210,000 |
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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Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
Authors: Mcgraw-Hill
5th Edition
0070099995, 978-0070099999
