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I'M HAVING TROUBLE WITH THIS ONE A recent annual report for NPS contained the following data: (dollars in thousands ) Current Year Previous Year Accounts

I'M HAVING TROUBLE WITH THIS ONE

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A recent annual report for NPS contained the following data: (dollars in thousands ) Current Year Previous Year Accounts receivable $ 3,627,000 $ 4, 647, 000 Less: Allowance for doubtful accounts 191, 000 152,000 Net accounts receivable $ 3,436,000 $ 4, 495,000 Net sales (assume all on credit) $ 36, 397,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do not round intermediate calculations. Enter your answers in thousands not in dollars.) Receivables Turnover Ratio Numerator Net sales $ 36,397,000 4.40 times Denominator Average net trade accounts receivable $ 8,274,000 X Average Days Sales in Receivables Numerator 365 365 Denominator Receivables turnover 4.40 X 82.95 days *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted

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