Exercise 16-30 Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days

Knowlton Company had net sales of $3,906,000. Knowlton had the following balances:

	January 1	December 31
Accounts receivable	$419,000	$398,100
Inventories	128,000	132,070

Required:

Note: Round answers to one decimal place.

1.Calculate the average accounts receivable.

2.Calculate the accounts receivable turnover ratio.

3.Calculate the accounts receivable turnover in days.