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Brief Exercise 7.11 (Static) Analyzing Accounts Receivable (LO7-8) Cromley Corporation reports annual sales of $1,800,000. Its accounts receivable throughout the year averaged $150,000. a. Compute
Brief Exercise 7.11 (Static) Analyzing Accounts Receivable (LO7-8) Cromley Corporation reports annual sales of $1,800,000. Its accounts receivable throughout the year averaged $150,000. a. Compute the company's accounts receivable turnover rate, b. Compute the average days outstanding of the company's accounts receivable. (Use 365 doys a year. Round your onswer to 1 decimal place.)
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