Question
Mifflin Company reported the following for the current year: Net sales Cost of goods sold Beginning balance in accounts receivable Ending balance in accounts
Mifflin Company reported the following for the current year: Net sales Cost of goods sold Beginning balance in accounts receivable Ending balance in accounts receivable $ 79,220 49,000 16,200 7,100 Compute (a) accounts receivable turnover and (b) days' sales uncollected. Hint. Accounts receivable turnover uses average accounts receivable, and days' sales uncollected uses the ending balance in accounts receivable. Complete this question by entering your answers in the tabs below. Accounts Receivable Turnover Days Sales Uncollected Compute the accounts receivable turnover. Accounts Receivable Turnover Numerator: I Denominator: I Accounts Receivable Turnover Accounts Receivable Turnover = = Accounts receivable turnover 0 times Days Sales Uncollected > Mifflin Company reported the following for the current year: Net sales Cost of goods sold Beginning balance in accounts receivable Ending balance in accounts receivable $ 79,220 49,000 16,200 7,100 Compute (a) accounts receivable turnover and (b) days' sales uncollected. Hint. Accounts receivable turnover uses average accounts receivable, and days' sales uncollected uses the ending balance in accounts receivable. Complete this question by entering your answers in the tabs below. Accounts Receivable Turnover Days Sales Uncollected Compute the days' sales uncollected. Numerator: Days' Sales Uncollected Denominator: Days Days' Sales Uncollected Days' sales uncollected 0 days < Accounts Receivable Turnover Days Sales Uncollected >
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