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The financial statements of Pharoah report net credit sales of $1.7 million. Accounts receivable are $350,000 at the beginning of the year and $280,000 at
The financial statements of Pharoah report net credit sales of $1.7 million. Accounts receivable are $350,000 at the beginning of the year and $280,000 at the end of the year. Calculate Pharoahs accounts receivable turnover and average collection period for accounts receivable in days. (Round accounts receivable turnover to 2 decimal places, e.g. 52.75. and average collection period to 0 decimal places, e.g. 52. Use 365 days for calculation.)
Accounts receivable turnover | enter Accounts receivable turnover in times rounded to 2 decimal places | times | |
Average collection period | enter Average collection period in days rounded to 0 decimal places | days |
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