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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, n/45. 2013 2012 20Y1
Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 2013 2012 20Y1 Accounts receivable, end of year $135,400 $142,000 $150,000 Sales on account 984,770 949,000 a. For 2012 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one de Assume a 365-day year. 20Y3 2012 1. Accounts receivable turnover X days 2. Number of days' sales in x days receivables b. The collection of accounts receivable has improved decrease in the collection period. This can be seen in both the increase in accounts receivable turnover and th Feedback
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