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Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55 2014 2015
Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55 2014 2015 $106,000 $113,000 $120,600 572,320 2016 Accounts receivable, end of year Net sales on account a. For 2015 and 2016, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 591,300 365-day year. 2016 2015 1. Accounts receivable turnover 2. Number of days' sales in receivables days days
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