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Rodriguez Companys accounts receivable balance was $150,000 on January 1, 2019 and $200,000 on December 31, 2019. Rivers had net credit sales of $1,500,000 during
Rodriguez Companys accounts receivable balance was $150,000 on January 1, 2019 and $200,000 on December 31, 2019. Rivers had net credit sales of $1,500,000 during 2019.
Instructions:
(a) Compute the accounts receivable turnover for 2019 (rounded to 2 decimal points)
(b) Compute the average collection period in days (rounded to one decimal point).
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