Question
Quasar, Inc. reported the following: Year 2 Year 1 Sales $1,596,875 $1,620,600 Accounts receivable 131,400 124,100 Assume that accounts receivable were $591,300 at the beginning
Quasar, Inc. reported the following:
Year 2 | Year 1 | |||
Sales | $1,596,875 | $1,620,600 | ||
Accounts receivable | 131,400 | 124,100 |
Assume that accounts receivable were $591,300 at the beginning of Year 1.
a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.
Year 2: | |
Year 1: |
b. Compute the days' sales in receivables for Year 2 and Year 1. Round interim calculations and final answers to one decimal place. Use 365 days per year in your calculations.
Year 2: | days |
Year 1: | days |
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
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