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Boom Lay Corp. has a current accounts receivable balance of $348,800. Credit sales for the year just ended were $4,482,080. What is the receivables turnover?
Boom Lay Corp. has a current accounts receivable balance of $348,800. Credit sales for the year just ended were $4,482,080. |
What is the receivables turnover? (Round your answer to 2 decimal places. (e.g., 32.16)) |
Receivables turnover | times |
What is the days' sales in receivables? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16)) |
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. Round your answer to 2 decimal places. (e.g., 32.16)) |
Average collection period | days |
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