Question
Accounts Receivable Turnover and Days' Sales in Receivables Classic Company reported the following: For the Period Ending Year 2 Sales $2,912,700 Year 1 sales $2,912,335
Accounts Receivable Turnover and Days' Sales in Receivables Classic Company reported the following: For the Period Ending Year 2 Sales $2,912,700 Year 1 sales $2,912,335 Accounts receivable Year 2 375,950 Year 1 390,550 Assume that accounts receivable were $346,750 at the beginning of Year 1. a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place. Compute the days' sales in receivables for Year 2 and Year 1. Round to one decimal place. Use 365 days per year in your calculations. * if you could please round to one decimal place as I think that is my mistake.
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