Haskin Company question: PART 3

Compute for each year the average days to sell the inventory. (Round answers to 1 decimal place, e.g. 1.6.) 2014 days? 2015 days?

Brief Exercise 18-11 (Part Level Submission)

The following data are taken from the financial statements of Rainsberger Company.

		2015		2014
Accounts receivable (net), end of year		$564,200		$560,800
Net sales on account		4,079,300		3,103,900
Terms for all sales are 1/10, n/60.

Compute for each year the average collection period. At the end of 2013, accounts receivable (net) was $512,600. (Round answers to 1 decimal place, e.g. 1.6.)

Average collection period 2014 days? 2015 days?