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Quasar, Inc. sells clothing, accessories, and personal care products for men and women through its retail stores. Quasar reported the following data for two recent
Quasar, Inc. sells clothing, accessories, and personal care products for men and women through its retail stores. Quasar reported the following data for two recent years:
Year 2 | Year 1 | |||
Sales | $4,095,300 | $4,190,565 | ||
Accounts receivable | 317,550 | 302,950 |
Assume that accounts receivable were $346,750 at the beginning of Year 1.
a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.
Year 2: | |
Year 1: |
b. Compute the days' sales in receivables for Year 2 and Year 1. Round interim calculations and final answers to one decimal place. Use 365 days per year in your calculations.
Year 2: | days |
Year 1: | days |
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