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Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, 1/45. 2013 2012 2011
Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, 1/45. 2013 2012 2011 Accounts receivable, end of year $149,600 $157,000 $164,200 Sales on account 843,150 786,940 a. For 2012 and 2083, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year 2013 2012 days days 1. Accounts receivable turnover 2. Number of days' sales in receivables b. The collection of accounts receivable has improved period in accounts receivable turnover and the decrease in the collection This can be seen in both the increase
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