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Presented below is information for Ayayai Company. Beginning-of-the-year Accounts Receivable balance was $24,200. 1. 2. Net sales (all on account) for the year were $103,400.
Presented below is information for Ayayai Company. Beginning-of-the-year Accounts Receivable balance was $24,200. 1. 2. Net sales (all on account) for the year were $103,400. Ayayai does not offer cash discounts. 3. Collections on accounts receivable during the year were $90,700. Your answer is incorrect. Compute Ayayai's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round answers to 2 decimal places, e.g. 4.57.) Accounts receivable turnover Days to collect accounts receivable 1.14 times 320 days
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