Problem #9: Accounts Receivable Ratios

Given the information below, write the formulas for Accounts Receivable Turnover and Days-in-Receivables. Compute the ratios for 2017.

	2016	2017
Net Credit Sales	$75,300	$76,700
Accounts Receivable	$45,600	$43,200
AFDA (credit balance)	$3,200	$4,400

Accounts Receivable Turnover (formula)=

AR Turnover for 2017

Days-in-Receivables (formula)= Days-in-Receivables for 2017