Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Aguilera Corp. has a current accounts receivable balance of $343,800. Credit sales for the year just ended were $5,105,430. What is the company's receivables turnover?(Do
Aguilera Corp. has a current accounts receivable balance of $343,800. Credit sales for the year just ended were $5,105,430. |
What is the company's receivables turnover?(Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) |
Receivables turnover | times |
What is the company's days' sales in receivables?(Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) |
Days' sales in receivables | days |
How long did it take on average for credit customers to pay off their accounts during the past year?(Use 365 days a year.Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) |
Average collection period | days
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started